Teekay LNG Partners Announces Pricing of Follow-On Offering

Teekay LNG Partners L.P. announced that it has priced its follow-on public offering of 4,000,000 common units, which represent limited partner interests, at $17.60 per unit. Teekay LNG has granted the underwriters a 30-day option to purchase up to an additional 600,000 units to cover over-allotments, if any. The Partnership expects to use the proceeds of the offering to repay amounts outstanding on one of its revolving credit facilities. The offering... Read more..

China Prosperous Clean Energy Corporation Completes Construction of First Stage of Shijiazhuang Project

China Prosperous Clean Energy Corporation, a retailer and wholesaler of compressed natural gas and liquefied petroleum gas through its subsidiaries based in China, today announced that the Company has completed the first stage of construction for natural gas distribution network for residential usage in Shijiazhuang Yuanshi County. This project has now entered the second stage which includes a CNG mother station, an additional 64.7 kilometers of natural... Read more..

Foster Wheeler Awarded Coal-to-Liquids Feasibility Study in China

Foster Wheeler Ltd. announced that its subsidiaries, Foster Wheeler Energy Limited and Foster Wheeler International Engineering & Consulting (Shanghai) Co. Ltd., together with its consortium partner, Wuhuan Engineering Company, have been awarded contracts by Sasol Synfuels International (Proprietary) Limited (Sasol) and Shenhua Ningxia Coal Industry Group Company Ltd. (Shenhua) to perform a feasibility study for an 80,000 barrels per day coal-to-liquids... Read more..

Waterborne Energy Points to Drop in Algerian LNG Production as Key in Summer Spot Price Spike

Ongoing production challenges at Sonatrach’s aging Algerian LNG complex has played a role in the recent record global spike in LNG prices experienced this summer, according to Waterborne Energy, a Houston-based consulting firm that specializes in LNG markets. “In April, it was reported that production would be reduced at Arzew due to scheduled maintenance,” says Steve Johnson, president of Waterborne Energy. “We later learned of an incident... Read more..

StealthGas Inc. Announces Agreement to Construct Four New 156,000 Deadweight Suezmax Tankers

StealthGas Inc., a ship owning company serving primarily the liquified petroleum gas (LPG) sector of the international shipping industry, announced today that it has ordered two new 156,000 deadweight Suezmax crude Oil Tankers with an option to order two additional such vessels. Delivery of the first vessel is expected in May-July 2011 and delivery of the second vessel in July-September 2011. If the Company exercises its option to construct the third... Read more..

TEPPCO Partners, L.P. Begins Service at New Boligee, Alabama Refined Products Terminal

TEPPCO Partners, L.P. announced that its TEPPCO Terminal and Marketing Company subsidiary has commenced operations at the partnership’s new 500,000 barrel Boligee refined products terminal in Greene County, Alabama. Located along the Tennessee Tombigbee waterway, the facility has storage for gasoline, diesel and ethanol, and features direct access to most of the Gulf Coast refining centers through an interconnect with the Colonial pipeline system.... Read more..