|
The Headlines
|
|
Power
|
|
C$70B / 6,915 MW — Québec and Newfoundland tear up the 1969 contract
|
|
• Hydro-Québec and Newfoundland and Labrador Hydro signed a Definitive Cooperation and Implementation Agreement on Aug. 17, replacing the 1969 contract. The build runs near C$70B: 1,275 MW of Churchill Falls upgrades, a 2,700 MW Gull Island plant at some 12 TWh from 2036–37, and a 2,000 MW wind project.
|
|
• Hydro-Québec locks 6,915 MW of firm supply at 6¢/kWh — a third of what it says alternatives cost — with Churchill Falls guaranteed to 2077. Ottawa adds up to C$10B behind it. Newfoundland retains up to 2,350 MW and puts its take at C$49B, against C$36B in the 2024 MOU.
|
|
Newfoundland and Labrador ·
Hydro-Québec ·
NRCan
|
|
|
|
Midstream
|
|
4.5 Bcf/d / two 48-inch lines — Solitude takes FID
|
|
• WhiteWater, Devon, MPLX, Diamondback and Western Midstream sanctioned two 48-inch lines from the Permian to Katy on Aug. 17, split 50/25/10/7.5/7.5. Phase 1 is some 2.25 Bcf/d in 2H29, with a similar phase in 2030. Firm transport is largely investment-grade; construction still needs approvals.
|
|
• Devon holds the 25% plus firm capacity, and says Solitude moves the majority of its Delaware gas out of Waha. It has already secured LNG-linked pricing on 100 MMcf/d from 2027 and 150 MMcf/d from 2028. Capex, mileage and named third-party shippers were not disclosed.
|
|
WhiteWater ·
Devon
|
|
|
|
NGLs
|
|
20 years / 825 MMcf/d — Exxon hands Targa two decades
|
|
• Twenty-year fee-based agreements cover ExxonMobil gathering, processing, treating, NGL transportation and fractionation on new Delaware and Midland dedications through 2046. Existing Midland fee floors were extended, and the NGL dedications run the same 20 years.
|
|
• Targa builds Wrangler, Ranger and Ranger II in the Delaware for a combined 825 MMcf/d in 1H28, plus a roughly 70-mile Bull Run II residue line to Waha. Up to five more plants and a Mont Belvieu train are under evaluation. Read the capex line carefully: FY26 net growth capital moved to ~$5.0B companywide, covering all of it.
|
|
|
|
M&A
|
|
$940M / 1,483 MW — Equinor buys a plant inside PJM
|
|
• Equinor agreed to acquire 87.71% of the Class A shares in Invenergy’s Lackawanna Energy Center for $940M, subject to a price reduction at closing. Invenergy keeps the rest of Class A, all of Class B and operations. The Class A shares carry preferential dividend rights.
|
|
• Lackawanna is 1,483 MW of combined cycle across three units, online since January 2019, close to 9 TWh a year at a 6,375 Btu/kWh heat rate. Equinor’s non-operated Appalachian position already delivers more than 1.7 Bcf/d. It is now on both sides of the meter, pending approvals.
|
