According to overseas media reports, the United States General Electric (GE) is expanding its natural gas business by investing in offshore projects. The company has announced that it will invest more than US$100 million to establish a limited partnership with Houston-based company F-W Oil Exploration to produce natural gas in the Gulf of Mexico.
It is reported that GE also plans to finance a 48-mile gas pipeline project. The pipeline will take on F-W's gas transportation mission of 12 million cubic feet per day in the gas field of South Padre Island, 12 miles off the coast of Texas. Through cooperation, GE's energy and financial services subsidiary will have $1.5 billion worth of oil and gas reserves, with more than 140 million cubic feet of natural gas per day and 31,000 barrels of oil per day.
According to the person in charge of the oil and natural gas business of GE's energy and financial services subsidiary, investing in offshore projects has greatly increased the company's opportunities to expand its oil and gas business, and at the same time enabled the company to use its technology and financing expertise in pipeline projects to supply increasingly tense markets. Provide more natural gas. GE is also gradually increasing its investment in natural gas pipeline projects. In July, GE and Canada’s largest financial institutional investor agreed to purchase a natural gas pipeline network with a total length of more than 6000 miles for US$362 million.
It is reported that GE also plans to finance a 48-mile gas pipeline project. The pipeline will take on F-W's gas transportation mission of 12 million cubic feet per day in the gas field of South Padre Island, 12 miles off the coast of Texas. Through cooperation, GE's energy and financial services subsidiary will have $1.5 billion worth of oil and gas reserves, with more than 140 million cubic feet of natural gas per day and 31,000 barrels of oil per day.
According to the person in charge of the oil and natural gas business of GE's energy and financial services subsidiary, investing in offshore projects has greatly increased the company's opportunities to expand its oil and gas business, and at the same time enabled the company to use its technology and financing expertise in pipeline projects to supply increasingly tense markets. Provide more natural gas. GE is also gradually increasing its investment in natural gas pipeline projects. In July, GE and Canada’s largest financial institutional investor agreed to purchase a natural gas pipeline network with a total length of more than 6000 miles for US$362 million.
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