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Pembina Pipeline is buying a 50% stake in Cedar LNG, a proposed floating LNG terminal in British Columbia. Pembina expects to invest about $90 million in the Haisla First Nation project over the next 24 months, including costs to acquire its interest in the project as well as development costs prior to the final investment decision. The company will operate the 3 million tons per year (411 MMcf/d) project going forward. * * * EOG Resources CEO Bill Thomas is retiring Oct. 1 and will be replaced by Ezra Y. Yacob as CEO and Billy Helms as president. Thomas, who has served as CEO since 2013, will assume the role of non-executive chairman of the board. * * * Three natural gas pipeline projects, including the 134-mile Gulf Run pipeline in Louisiana and the 94-mile North Bakken expansion project in North Dakota, have been given Federal Energy Regulatory Commission approval. FERC chairman Richard Glick and Commissioner Allison Clements dissented on grounds that the National Environmental Policy Act requires a supplemental environmental impact statement unless the agency can determine that the projects either will not cause any significant adverse impacts or that these will be mitigated.

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Tue, Jun 6, 2023