The Port of Gladstone expects to reach full export capacity by the end of March, as the first coal shipments from the Blackwater line are expected this week. The ports of Bundaberg and Alma remain closed.
Arch Coal, Inc. announced an agreement with Canadian Crown Corporation Ridley Terminals Inc. to facilitate coal exports to Pacific Rim markets. The five-year agreement will give Arch throughput capacity at the terminal of up to 2 million t of coal for 2011 and up to 2.5 million t of coal for 2012 through 2015.
Peabody Energy Australia has awarded Thiess Pty Ltd a contract to extend mining operations at its Burton coal mine in the Bowen basin, Queensland, Australia. The mine extension will maintain the current production level of 2.5 million tpa of high quality coking coal.
GE and Shenhua have agreed to form an industrial coal gasification joint venture to advance the deployment of cleaner coal technology solutions in China.
Wood Mackenzie’s analysis of the implications of the Queensland floods for the coal industry finds that over half of Australian exports are likely to be affected and the impact of the decrease in exports in this ongoing situation will be felt strongly in global coal markets.
As Europe grows increasingly weary of the Russian energy dominance that its member states regularly complain about, this issue has yet to be addressed, as bilateral negotiations with Moscow are ongoing.
Total and partners have sanctioned the development of the Gladstone LNG project at a cost of US$ 16 billion.
Coal miners across North America are fighting for purchase at export terminals along the continent’s West Coast. Ports and terminals are experiencing a backlog as North American suppliers try to reach the hungry Asian coal market.
Duke Energy and Progress Energy, Inc. announced today that both companies’ boards of directors have unanimously approved a definitive merger agreement to combine the two companies in a stock-for-stock transaction. The combined company, to be called Duke Energy, will be the country’s largest utility.
Arch Coal, Inc. today announced that it has acquired a 38% interest in Millennium Bulk Terminals-Longview, the owner of a bulk commodity terminal in exchange for US$ 25 million plus additional consideration upon the completion of certain project milestones.
Saponis Investments Sp. Z o.o., a 20% owned subsidiary of LNG Energy Ltd has spudded its first exploratory shale gas well in Poland.
The Rumaila Operating Organisation (ROO) has met a major milestone in the redevelopment of the super-giant field in Southern Iraq by increasing production by more than 10% above the 1.066 million bpd initial production rate agreed in December 2009.
Seneca Resources has acquired additional acreage in the Marcellus Shale from EOG Resources at a cost of US$ 23 million.
Gazprom Marketing & Trading and Gujarat State Petroleum Corporation have signed an LNG agreement.
Granherne, a subsidiary of KBR, has been selected by GDF SUEZ Bonaparte Pty Ltd to execute the pre-FEED study for the Bonaparte LNG Project.