PTT Global Says Belmont, OH Ethane Cracker NOT Delayed
PTT Global Chemical, based in Thailand, announced in April 2015 they are interested in building a $5 billion ethane cracker plant complex in Belmont County, OH (see It’s Official: Belmont County Chosen as POSSIBLE Cracker Plant Site). From the beginning, PTT let it be known a final decision on whether or not to invest the whole $5 billion would not come until 2016 or 2017. Last week MDN picked up a story from the Bangkok Post which said the decision will definitely come in 2017, calling the decision “delayed” (see PTT Global Says OH Cracker Decision “Delayed” Until 2017). Apparently stung by that story, a local PTT spokesman in Ohio has responded to say the Bangkok story is wrong–the decision is not “delayed” and is, in fact, on track…
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It’s time to sue THE Delaware Riverkeeper out of existence. The group is a litigious nuisance and anti-American. It is led by Maya van Rossum and fed by money from the Heinz Endowments and William Penn Foundation. Even with repeated calls the IRS has refused to investigate violations of the group’s non-profit status. The latest outrage from this group of virulent radicals is to launch a lawsuit to try and stop Williams’ Atlantic Sunrise Pipeline project through southeastern PA. Just last week Williams received a favorable Environmental Assessment (EA) from the Federal Energy Regulatory Commission (see
Last night representatives from Spectra Energy held a town hall meeting at the Congruity Presbyterian Church in Westmoreland County, PA to discuss the explosion of Spectra’s Texas Eastern Transmission’s (TETCO) “Delmont Line 27” which exploded in Westmoreland County, PA on April 29 (see 

The PennEast Pipeline, a $1 billion, 118-mile pipeline from Luzerne County, PA to Mercer County, NJ, continues to bend over backwards, forwards and into yoga knots in order to accommodate the wishes of various special interest groups. The latest in that effort is PennEast’s invitation to several New Jersey municipalities and non-profit groups to provide feedback on PennEast’s open space initiative. Part of the PennEast route will traverse 15 acres of encumbered “Green Acres” parcels–open spaces meant to stay open and not be developed. PennEast plans to lay their pipe four feet down, cover it up, and the green/open spaces will remain green and open, forever. In fact, according to PennEast, when the pipeline installation is done and dusted, there will be “significantly more open space” than there is today. Look for THE Delaware Riverkeeper (Maya van Rossum) and other radical leftists to demagogue this latest effort by PennEast to be a good neighbor…
Crestwood Equity Partners (nee Crestwood Midstream) issued its first quarter 2016 update last week. In April Crestwood announced that New York City utility giant Consolidated Edison Inc. has formed a 50/50 joint venture to purchase ownership of pipelines and storage facilities in the PA and NY Marcellus region (see
CONE Midstream, a joint venture between CONSOL Energy and Noble Energy (get it? CO from CONSOL and NE from Noble Energy) was formed in summer 2014 (see
The rig count–both internationally and domestically here in the U.S.–continues its historic slide. Last Friday Baker Hughes announced the average rig count numbers for April. Rigs operating outside the U.S. slide another 39, from 985 in March to 946 in April. In the U.S., the count slide 41 from 478 in March to 437 in April. In the Marcellus/Utica, the count was down another 2–both rigs lost came in Pennsylvania, which now has the lowest count in decades: just 16 rigs operating in the state. Ohio and West Virginia held constant month over month with 11 rigs operating in the Buckeye State and 12 rigs operating in the Mountain State. Here’s the sad news of the continuing decline in rig counts…
Last week midstream giant Spectra Energy provided their first quarter 2016 update, complete with earnings/analyst phone call. The official update (below) contains a number of project updates for major pipeline projects planned or under construction in the Marcellus/Utica region. The earnings phone call with analysts provided a lot of extra color commentary on the project updates. We’ve brought you both below. One thing that stood out to MDN as we read through it: Spectra makes it clear that their Access Northeast project, a competitor to the now defunct Kinder Morgan Northeast Energy Direct (NED) project, is not like NED. There are major differences that Spectra Energy credits with what they predict will be the success of their project where the NED project failed. Not only is there an update for Access Northeast, but also updates for NEXUS, AIM, Atlantic Bridge, and others below…
Last week midstream giant Williams issued its first quarter 2016 update. The company reported a net loss of $65 million in 1Q16, compared to making $70 million in 1Q15. The company said the difference was because of higher interest expenses and due to a change in internal accounting practices–not because of lost business. Along with the update Williams’ top brass held an analyst/earnings call. Notably on the call they refused to take any questions dealing with the impending merger/takeover by Energy Transfer Equity (ETE). Williams has sued ETE over that plan and apparently Williams’ lawyers put the fear of God into management that they could not talk about the case or the merger during the phone call–which is disappointing given that ETE did talk about it on their call (see
Last year midstream giant Energy Transfer Equity and its CEO Kelsy Warren pursued Williams, for months, and finally got Williams to agree to a deal to sell itself to Warren for $38 billion (see