Buckeye Partners Buys Bear Head LNG Project in Nova Scotia
An interesting development for an LNG export project in Canada we’ve tracked for years. Bear Head Energy, Inc., the current owner of Bear Head LNG in Nova Scotia, is being sold to Houston-based Buckeye Partners for an undisclosed sum. Buckeye is a portfolio company of, wholly owned by, IFM Global Infrastructure Fund (based in Australia). The former owner of the Bear Head LNG project, LNG Limited, was also based in Australia before it went belly up. Buckeye is a serious company with serious assets in the U.S. and has declared its intent to develop the fully-permitted Bear Head project forthwith. Maybe Canada’s East Coast will get an LNG export facility after all!
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Don’t look now but Utica/Marcellus condensate being produced at a MarkWest Energy processing plant in Cadiz, OH is being exported out of the country via a ship docked on the Hudson River at Perth Amboy, New Jersey–just across the river from Manhattan! The condensate is transported to NJ via railroad in specially designed rail cars. A second ship is being loaded up and will leave with Utica/Marcellus condensate from MarkWest, according to the Reuters story below. The first ship loaded with condensate left Perth Amboy one month ago heading to the Netherlands. No word yet on where the second load is heading, but sources say exporting condensate from Perth Amboy is now set up to become a routine thing, which is fantastic news for drillers in Ohio, Pennsylvania and West Virginia that produce condensate…
In April MDN reported on a successful open season (time when new customers sign up) for the Michigan/Ohio Pipeline Expansion Project–a pipeline expansion project that will deliver “refined petroleum products” (things like gasoline, kerosene and heating oil) from Woodhaven and Detroit, Michigan, and from Toledo and Lima, Ohio, to destination points in both Ohio and Western Pennsylvania (see