U.S. efforts to speed natural gas exports as a way to loosen Russia’s grip on European energy supplies may be thwarted by lengthy reviews and developer reluctance to proceed with multibillion-dollar projects.
Energy Transfer Partners LP, a Dallas pipeline builder, was awarded $319 million by a Texas jury that found Enterprise Products Partners LP wrongfully dropped it from plans for an oil conduit to compete with the Keystone XL project’s southern leg.
Energy Transfer Partners LP was dropped from a deal to build a pipeline from Oklahoma to the Texas Gulf Coast when collaborator Enterprise Products Partners LP realized it could make more money with another company, a lawyer told a jury.
Energy Transfer Partners LP wants a share of the $463 million in annual revenue generated by an oil pipeline stretching from Oklahoma to the Gulf of Mexico after Enterprise Products Partners LP allegedly cut it out of a deal to build it.
Regency Energy Partners LP, a pipeline partnership controlled by Energy Transfer Equity LP, agreed to buy two midstream units for about $1 billion to expand in Texas, where crude production has surged.
Philadelphia Energy Solutions’ Philadelphia refinery will begin a turnaround today that was scheduled for February, after an unplanned outage shut units, according to a person familiar with operations at the site.
Traders who profit from acquisitions are betting the bidding war for Southern Union Co. will drive the deal price up more than any other U.S. takeover as Energy Transfer Equity LP and Williams Cos. battle for gas pipelines.