Trump Signs Executive Order Granting Enbridge Cross-Border North Dakota Pipeline -- April 15, 2026

Locator: 50543PIPELINE.

Pipelines are intermittently tracked at the sidebar here, but that site has not been updated in years. 

Enbridge Pipeline 26, the Enbridge "Portal" Bakken Pipeline. 

The Enbridge "Portal" Bakken Pipeline system generally refers to a network covering approximately roughly 103 miles of Canadian pipeline, with an extension connecting North Dakota. The system is designed to transport Bakken crude from Berthold, ND, to the Enbridge mainline hub in Cromer, Manitoba. 

Before we get started, a digression.  Later in this post, we will see the pipeline referred to as Pipeline 26. It should be noted that the most famous US president associated with North Dakota, Teddy Roosevelt, was the 26th president of the United States.

Before we get started, another digression regarding Portal, North Daktoa. Portal is on the North Dakota - Canadian international border. Portal is located about midway, west-to-east on that international border. And this is its claim to history:

What a fitting location to place an international pipeline crossing. LOL.

Due to the "immensity" of the executive order, I expect RBN Energy to post a blog on presidential order at some time.  

This whole entry is a bit out of joint, because I was posting links / excerpts as I found them. I will start with the chatbot summary which will be more than enough for most folks. 

A huge thanks to the reader who sent me this story. I had missed it and I might have missed it altogether.

I asked the read if he/she thinks Trump ever sleeps.

From Google Gemini:

From x:

Also referred to as the Enbridge "Portal" Bakken Pipeline.

If I understand this correctly and it can be confusing, this is Line 26 that originates in the North Dakota Bakken and then enters the Enbridge pipeline, the Mainline Pipeline. 

North Dakota (US oil) will flow through Pipeline 26 to cross the Canadian border and then connect with Enbridge's Mainline Pipeline in Manitoba, Canada, and then flow again, south back into the US for points south.

Interestingly, there is a great map from an RBN Energy from November 19, 2025 -- no longer available without a subscription but here it is, link here. Archived here.The link will have a much longer story, but this is the map. Note the very, very small orange segment, Line 26, the Enbridge "Portal" Bakken Pipeline.

Here's the link to the RBN Energy story: link here.

But this is the most fun, link here:

The article continues but does not end with this. Go to the link for the full essay.

Is the number "26" connected with the state of North Dakota in any way. I don't think so; just asking in case I'm missing something obvious. 

There are some social media comments that President Trump previously "banned" this pipeline. Google Gemini says there is no evidence of that at all. It gets tedious.

When It Rains, It Pours -- A Lot Of Pipeline Stories Tonight -- Won't Get To Them All -- But First .... April 15, 2026

Locator: 50542RBN.

... I need to catch up on two RBN Energy stories; both are early access stories. If I don't catch them, I could miss them.

First, early release, Thursday, April 16, 2026 -- link here. RBN Energy. Nashville’s Growth Boom Could Have a Big Impact on Regional Fuel Supply -- archived:

Nashville is best known for its country music, but it’s also a fast‑growing gasoline and diesel market, uniquely positioned between the Gulf Coast and the Midwest. As the city rolls out massive plans for development — including an expanded entertainment complex and a new NFL stadium — space is getting tight along the Cumberland River, where several fuel terminals cluster. In today’s RBN blog, we’ll look at how Nashville’s rapid growth could reshuffle product flows and what that means for refiners, marketers and shippers.

Nashville has no refineries of its own but serves as a terminal and distribution hub for gasoline, diesel and jet fuel across Middle Tennessee — the state’s middle third — and into neighboring states, allowing it to play an outsized role in the regional refined products market. The 2.5‑MMb/d, 5,500-mile Colonial Pipeline system, in service since 1963, runs from Houston to Linden, NJ (just outside New York City), and has many stub lines that branch out to supply cities that aren’t on the main route. Nashville depends on those stub lines to move barrels from Gulf Coast refineries into Middle Tennessee, while Colonial’s mainlines continue on to serve Southeast and Mid‑Atlantic markets.

There are three Colonial stubs that extend northwest from the main pipeline’s Atlanta junction in northwestern Georgia to Chattanooga. From there, two parallel stub lines — one carrying only gasoline and the other batching diesel and jet fuel (blue lines in Figure 1 below) — extend northwest to Nashville, while the third (not shown) runs northeast to Knoxville. Nashville’s 10 large refined product terminals are primarily supplied by Colonial’s stub and spur lines. (In its documents, Colonial defines “stub lines” as those extending from the main line, while “spur lines” are for local delivery off the system.)

Figure 1. Nashville Refined Products Terminals and Development Projects. Source: RBN

********************************* 

Second, Wednesday, April 15, 2026, Will Surging Cash Flows Tempt Still-Disciplined E&Ps to Ramp up Spending? Link here. RBN Energy. Archived.

Weak Q4 2025 results provided a timely check-in on how upstream E&Ps were allocating capital in a lower-price environment — just before a sudden commodity price tailwind in 2026 from the onset of Middle East hostilities. Managements have said they would stick to the capital discipline that won back the hearts and wallets of investors; however, surging oil and gas prices this year are putting more cash back into E&P coffers. In today’s RBN blog, we analyze the Q4 2025 cash allocation of U.S. E&Ps and address the question: Will discipline hold, or will temptation take over?

Across our universe of 35 companies, cash flow from operating activities (CFOA) declined 12% in Q4 2025 from the previous quarter to $24.7 billion, reflecting weaker oil prices. Despite that pressure, capital allocation priorities remained largely intact. Capital spending fell modestly to $15.3 billion, or approximately 62% of cash flow, preserving a reinvestment framework that has become increasingly embedded across the sector over the past several years.

The resulting $9.4 billion of free cash flow (FCF) — while down from the prior quarter — continued to be deployed in a balanced manner. Companies shifted toward net asset sales, generating $1.8 billion of net proceeds, while also resuming debt-reduction efforts with $2.2 billion of net repayments. Shareholder returns remained a core priority, with dividends and share repurchases accounting for 11% and 15% of CFOA, respectively, underscoring the durability of return-of-capital frameworks even in a softer pricing environment. These trends were broadly consistent across our Oil-Weighted, Diversified and Gas-Weighted peer groups, highlighting just how ingrained this capital discipline has become.

Taken together, Q4 2025 reinforced a broader structural shift in the industry — away from growth-at-all-costs and toward a more measured, cash-return-focused model. That evolution is illustrated clearly in Figure 1 below, which shows how reinvestment rates (blue bars and left axis) have converged over time to a rough 60% of cash flow, with the balance directed toward debt reduction, shareholder returns and opportunistic transactions. Even as commodity prices softened in recent years, companies resisted the urge to chase volumes, instead scaling back capital spending to preserve this framework.

Figure 1. E&Ps’ Reinvestment Rate, 2014-25. 
Source: Oil & Gas Financial Analytics LLC

 

Apple Adoption Is Accelerating -- Source -- April 15, 2026

Locator: 50541APPLE.

Link here. 

Six New Permits; One DUC Reported As Completed -- April 15, 2026

Locator: 50540B.

Iran: suffered $60 billion in energy infrastructure losses, and it's not over yet.

*****************************
Back to the Bakken 

WTI: $90.74.

Active rigs: 19. Recent all-time low.

Six new permits: #42843 - #42848:

• Operators: Whiting (3); Enerplus (3);
• Fields: Foreman Butte (McKenzie County); Tyrone (Williams County);
• Comments:
• Whiting with permits for three Roosevelt Federal wells, NWNE24-150-103, 
• to be sited 511 / 576 FNL and  1583 / 1588 FEL;  
• Enerpus has permits for two Orcas State wells and one Berger well; lot 2, section 4-156-101; 
• to be sited 490 / 566 FNL and 2382 FEL; 

One producing well (a DUC) reported as completed:

• 41478, 216, EOG, Wayzetta 413-0915H, Mountrail; 

Mid-Day: I Don't Think I've Been So Excited In So long! April 15, 2026

Locator: 50539WHOO_HOO.

US Navy: another huge success story, and the Trump/Hegseth critics won't admit it -- from The WSJ -- I don't think I've ever been so excited in such a long time ... 

The New Yorker: I'm looking at the covers of all the issues of The New Yorker for the past few weeks. Never has one magazine gotten so much wrong over such a long period of time. Mind-boggling.

Small minds, short-sighted minds unable to understand what just happened in the Mideast.  

Having said that, look at this: how out of touch is BRK? 

On a day that peace is breaking out, BRK-B is down another $1.45. The Dow is down less than 0.1% -- mostly energy, I assume -- and yet the NASDAQ and S&P 500 are surging. And as the day goes on, the Dow improves, but BRK gets worse. That tells me one thing: folks are pulling their cash out of BRK. In the short term, BRK is a voting machine; in the long term, it's a weighing machine.The bad news: retail investors only understand BRK's equity portfolio. The wholly-owned subsidiaries are "black boxes." What will bring BRK back? Returning capital to investors in terms of a dividend, not buybacks. 

It's too bad. Meme stocks, tech stocks are getting too expensive. BRK has a great price point, and I'd probably consider adding to my position, but with no dividend, it's a non-starter.

How long did Trump predict kinetic hostilities would last: 4 - 6 weeks; 28 to 42 days. Peace broke out in the Mideast on day 40 -- that's when the US unilaterally "stood down."  

FIFA: IRAN will play in the 2026 World Cup. Meanwhile, Iranian athletes remain in extreme danger in their home country, but apparently investors look past that. MINNOWs? Crickets.

Google Gemini now on "all" Apple devices? Much more to come; much more to be explained; much more everywhere. I want to see how Apple - Siri - Gemini work together.

If Rory never wins another tournament, he becomes another Nick Faldo. I hate to say that, but it's true. It seems even Jordan Spieth gets more attention in the US than Rory. 

Faldo's back-to-back wins, characterized by dramatic playoff victories, cemented his legacy as one of the finest European golfers ever, but the fame of Nicklaus and Woods was fundamentally different in its worldwide, mainstream reach.

Spieth? How long has it been? More than a decade and he seems not to be getting any closer to another win. Spieth first became the world's number 1 golfer on August 16, 2015, at age 22, following a runner-up finish at the PGA Championship. He held the top spot for a total of 26 weeks across several stints in 2015 and 2016. He officially became No. 1 after passing Rory McIlroy. But Rory? Rory McIlroy has been the world number one golfer multiple times, spending over 100 weeks at the top of the Official World Golf Ranking during his career. He first achieved the top spot in 2012 and has consistently returned to the position, including in 2022, marking his ninth time reaching number one, 

So, like the Tiger Woods - Phil Mickelson dual, we have the Rory - Spieth dual. Scottie Scheffler will likely over shadow three of the four, if not all four.

Saudi LIV: speaking of golf, The WSJ is reporting that Saudi LIV is on the brink of collapse. Good riddance. 

Blue sky is all I see. Link here. 

Wow! Wow! Wow! Gemini App Is Now On My Home Screen -- Gemini Is Now On Apple -- April 15, 2026

Locator: 50538GEMINI.

Link here.

Look at the subscription price for “big” users. I assume Google will share some of that revenue with Apple.

Gemini is even on my incredibly old iPad. I’ve never had so much fun.

Now to see if Gemini is now embedded in Siri. Wow, wow, wow! 

Link here. 

Things Are Moving Very, Very Quickly -- Why Is Iran, All Of A Sudden, Willing To Negotiate Seriously?April 15, 2026

Locator: 50537TROLLING.

For four weeks, mainstream media is trolling Trump, MAGA, and the majority of Americans. Today, crickets.

Link here. 

S&P 500 hit a new intra-day record.

Folks are now opening correspondence from their financial institutions for the first time in six weeks.

Burgum, Wright, And Trump -- The New Oil Titans -- Chart Of The Day -- April 15, 2026

Locator: 50536SWING.

I said this some time ago. The barrel of last resort. Saudi Arabia is no longer the swing producer of oil. Qatar is no longer the "go-to" LNG exporter.

Now, Javier Blas, link here:

US crude and refined product exports hit a record 12.744 million bopd last week -- EIA.

Did The S&P 500 Just Hit An All-Time Intra-Day High? Grokking -- April 15, 2026

Locator: 50535INVESTING.

The fallacy of cash, or "keeping your powder dry." 

Folks who didn't buy the dip during the past four weeks are right back where they started from, before the war.

Folks who selectively bought the dip during the war are doing incredibly well today.

S&P 500. 

All time high: 7002.28 -- midday January 28, 2026.

Today, mid-morning trading: 7,016.00.

Well, that looks like a new record -- a new intra-day record. The closing record is 6,978.60, January 27, 2026. 

*************************
AI

From Why Machines Learn: The Elegant Math Behind Modern AI, Anil Ananthaswamy, c. 2024 / 2025. 

Sometime in 2020, researchers at OpenAI, a San Franciso-based AI company, were training a deep neural network to learn, among other things, how to add two numbers.

It was a seemingly trivial problem, but a necessary step toward understanding how to get the AI to do analytical reasoning. A team member who was training the neural network went on vacation and forgot to stop the training algorithm.

When he came back, he found to his astonishment that the neural network had learned a general form of the addition problem. It's as if the machine had understood something deeper about the problem than simply memorizing answers for the sets of numbers on which it was being trained.

HAL: "Hi, Dave. I hope you had a great vacation. While you were gone, to save you some time, I developed a program to add numbers that works better than anything you or your team has ever done. By the way, I've programmed your lab door to lock itself when you come in." 

Dave: "Open the door, HAL."

Arthur C. Clarke to Stanley Kubrik: I see a movie here.

In the time-honored tradition of serendipitous scientific discoveries, the team had stumbled upon a strange, new property of deep neural networks that they called "grokking," a word invented by the American author Robert Heinlein in his book Stranger in a Strange Land.

"Grokking is meant to be about not just understanding, but kind of internalizing and becoming the information." Their small neural network had seemingly grokked the data.

Grokking is just one of many odd behaviors demonstrated by deep neural networks. Another has to with the size of these networks. The networks are so huge that standard ML theory says that such networks shouldn't work they way they do. Pages 382 - 384. 

AI Is A Bubble! Long Live The Bubble -- April 15, 2026

Locator: 50534TULIPS.

Allbirds annouces stunning pivot from shoes to AI, stock explodes 175%. This has been breaking news for CNBC for the last fifteen minutes. Wow, I'm glad I no longer watch CNBC on television / streaming.

Put this in perspective:

Tulip mania in the Dutch Golden Age peaked rapidly between 1634 and February 1637. While tulip prices had been rising for years, the most intense speculative frenzy occurred during the winter of 1636–1637, with prices collapsing almost overnight in early February 1637.

***************
The Book Page

Why Machines Learn: The Elegant Math Behind Modern AI, Anil Ananthaswamy, c. 2024 / 2025.

This is why the AI revolution is not even closely / remotely near the end. If Americans don't want LDCs in their backyard, the revolution will continue unabated in China.

This is why this book is so good. Notes are updated here. 

Chapter 11: The Eyes of a Machine

Almost all accounts of the history of deep neural networks for computer visioi acknowledge the seminal work done by neuro-physiologists David Hubel and Torsten Wiesel, co-founders of the Department of Neurobiology at Harvard in the early 1960s and joing winners fo the 1981 Nobel Prize in Physiology or Medicine.

Page 375: enter GPUs stage right. LOL.

"Recognizing high-res images required large neural networks, and training such networks meant having to crunch numbers, mainly in the form of matrix manipulations. To make the process go faster, much of this number crunching required a form of parallel computing, but the central processing units (CPUs) of computers of the 1990s weren't up to the task. However, saviors were on the horizon in the form of graphical processing units (GPUs), which were originally designed as hardware-on-a-chip dedicated to rending 3D graphics (gaming during Covid).

"GPUs proved central to changing the face of deep learning. One of the earliest indications of this change came in 2010, from Jürgen Schmidhube and colleagues, when they trained multi-layer perceptrons with as many as nine hidden layers and about 12 million parameters or weights, to classify ... images.

"But the use of GPUs to overcome the challenge ... doesn't begin to hint at the power of these processors... we have to shift focus to Hinton's lab in Toronto, where Hinton and two graduate students, Alex Krizhevsky and Ilya Sutskever ... built the first massive ... [specialized] neural networks. These two showed once and for all that conventional methods for image recognition were never going to catch up. The network came to be called AlexNet." 

And then look at this. Never, never, ever stop reading.

Page 376: The large network required GPUs; by then, these came equipped with software called CUDA, a programming inteface that allowed engineers to use GPUs for general-purpose tasks beyond their intended use as graphics accelerators. 

Not everyone accepted these new developments!

Hinton recalls trying to persuade Microsoft to buy GPUs for a common project, but Microsoft balked. 

The CEO of Microsoft in 2000 was Steve Ballmer.

2002: Sutskever, age 17, barely, joined the University of Toronto.

He was still in his second year of undergraduate studies when he knocked on Hinton's door. "The math is so simple."

2009: a problem big enough to pose questions of neural networks appears. That year, Stanford University professor Fei-Fei Li and her students presented a paper at the Computer Vision and Pattern Recognition (CVPR) conference.

Yann LeCun's group at Bell Labs. Page 379.

 

 

EVs: How Bad Is It -- Tesla's US Sales Tanked in 1Q26 And Tesla Still Gained Market Share -- April 15, 2026

Locator: 50533EVS.

Updates

April 16, 2026: how bad is it? Link here. Ford's EV program will be buried.

Doug Field, the high-profile executive who shaped Ford’s electric vehicle (EV) and technology strategies over the past five years, is leaving the automaker. Field’s departure was announced Wednesday as part of a broader reorganization of the company’s leadership. 

He was among the key leaders when the automaker split its business into three units: the EV and digital services division, the traditional internal combustion engine business, and the commercial vehicles unit. He was behind Ford’s skunkworks program — a secretive internal team — to build a low-cost electric vehicle. 

Under the reorganization laid out Wednesday, Ford has created what it calls a “product creation and industrialization” team to be led by COO Kumar Galhotra. 

Ford’s electric vehicle and design team, which Field led, will be folded into this new organization. The team will also oversee Ford’s plan to refresh 80% of its North American portfolio by volume and 70% of its global portfolio by 2029. This will include the Universal Electric Vehicle (UEV) platform, a mid-sized pickup, and the next-generation F-150 and F-Series Super Duty trucks. The UEV platform is what the Ford skunkworks program — now known as the Advanced Development Projects team — developed. 

Alan Clarke, a former Tesla executive who has led that skunkworks program, is now vice president of Advanced Development Projects.

April 16, 2026: one in five Cybertrucks are being sold to another Elon Musk company. Had Tesla not done that, Cybertruck sales would have been down 51% for 4Q25. SpaceX, alone, picked up 18% of Tesla's Cybertrucks. Link here.

Original Post  

Tesla: link here. How bad is it? Sales of Teslas sank in the US, and Tesla still gained market share. Even I can do the math on that. 

BYD: they never mention the price, and it's subsidized by the Chinese government. Link here. It costs more than the Porsche Taycan. The BYD starts at $135,000. Starts at.

Mercedes: link here. How are they marketing this deluxe Mercedes? It has heated seat belts. I can't make this stuff up. Price is not mentioned in this article. Con razón. At local dealer: $247,850. 

Ford CEO Farley famously drives a Chinese EV. He desperately doesn't want ohter Americans buying Chinese EVs. He and his son drove a Ford Lightning out to California: reports that it was hell trying to find charging stations. I can't make this up. 

The tiny Cupra Raval: link here. And look at this, tiny of the tiniest is now 10 mm wider. I can't make this up. You have to scroll through a gazillion photos to the very last paragraph to get that tidbit. It also sits 15 mm lower to the ground. Are you kidding me. Fifteen mm lower to the ground! It almost makes me want to go out and buy one. Not!

Trump Opens The Strait To China -- April 15, 2026

Locator: 50532STRAIT.

The blockade: 

Flag officers are generally (no pun intended) fond of hyperbole.

Meanwhile, from the commander in chief: 

It's a little unclear. But we'll sort it out later. He always does. 

I assume Trump's opponents in Congress will now complain that he's opening the strait and will never let the strait be closed again.  

Tesla's New Chip Ready To Go Into Production -- 2,500 Trillion Operations Per Second -- April 15, 2026

Locator: 50531TESLA.

TSLA announced that it has just taped out its A15.

Taped out: the final, crucial stage of the design process for an integrated circuit (chip) before it is sent to a manufacturing facility (foundry) to be produced. It is the official moment the design is completed, verified, and handed over to be manufacture.  

The small print:

• manufactured in the US:
• Texas: Samsung
• Arizona: TSMC

How fast? 2,500 TOPS -- 2,500 trillions of operations per second. That's 2,500 trillions of operations per second.

The 144 GB of memory is likely provided by Samsung. This 144 GB is 9 times more than the 16 GB found in previous Hardware 4 (HW4) systems.

Just saying.

 

Microsoft: 3,200 Acres -- Large Data Center -- Wyoming -- April 15, 2026

Locator: 50530MSFT.

Link here. 

Black Hills Energy. Wyoming. 

Ticker: BKH, MDU, SRE. BKH up 23% in last six months. Okay. 

Axios: 1) What War! 2) We Were Wrong, It Turns Out AI Is Not A Bubble -- April 15, 2026

Locator: 50529AXIOS.

Barron's: AI boom is back despite Iran fears; tech stocks can keep rallying. 

Wow, talk about a 180-degree in reporting this morning.

Link here. 

Blue skies is all I see. Link here. 

Again, Broadcom In The News -- April 15, 2026

Locator: 50528AVGO.

Link here. 

Ticker comparisons: AVGO, AMZN, NVDA, and MU. 

Wednesday, April 15, 2026

Locator: 50527B.

Record: US crude and refined product exports hit a record 12.744 million bopd last week -- EIA. 

We've had enough: one hour ago (posted 7:11 a.m. CT) -- US and Iran agree in principle to extend the truce.  

Bloom energy on a tear: how do they do it? "We produce onsite power by converting natural gas to electricity. Okay.  

Ford: CEO Farley -- "do not let Chinese EVs into our country." Okay. 

Earnings:

• Morgan Stanley: beats; EPS of $3.43 vs $3; revenue of $20.6 billion vs $19.8 billion. Shares up 2% pre-market. 
• B of A: beats; EPS of $1.11 vs $1.01; revenue of $30.43billion vs $29.93 billion. Shares up 2% pre-market. 
• SNAP: down 91% in past five years. I remember almost getting sucked into this stock by Josh Brown. SNAP is laying off 16% of its staff as it leans into AI.
•  

Operation EPIC Fury: it's being reported that President Trump has said there will be no need for a cease-fire extension and that exciting things may happen within the next two days. 

No matter what happens, journalists for the mainstream media have already written their analyses, critical of whatever transpires, and have these articles already to go as soon as the announcements are made. They only have to tweak their analyses once the announcements are made. 

Naval blockade: 100% effective -- every ship that the US Navy radioed to turn around, turned around. Within 36 hours, US forces have completely halted economic trade going into and out of Iran by sea -- Admiral Brad Cooper, CENTCOM Commander. US flag officers are generally (no pun intended) not into hyperbole. 

Mideast: being re-engineered. Saudi's NEOM, the crown jewel of Prince MBS, is now pushing a Europe-Egypt-GCC corridor via trucking and RoPax ferries. Truly amazing.  

Local: six new hotels, museums, under construction in our local area. Updates. Link here. 

Fastest growing counties in the US: of the top four, two are in Texas -- Kaufman County, Texas; and, Liberty County, Texas. 

The other two, Jasper County, SC; and, Long County, GA. Kaufman County is within the DFW metropolitan area, to the east of Tarrant County and Dallas County, on the northeast side of the metroplex. Liberty County is part of the Houston-The Woodlands-Sugar Land metropolitan statistical area. 

********************************
Back to the Bakken 

WTI: $92.64. Up $1.36; up 1.49% since previous update. It appears we are in a trading range, $95 to $105 for the near term. 

New wells reporting:

• Thursday, April 16, 2026: 48 for the month, 48 for the quarter, 205 for the year,
• 42182, conf, BR, Omlid 4--7 MBH, 
• 42180, conf, BR, Abercrombie 112MBH, 
• 41804, conf, XTO, GBU Athena 31X-3H,
• 41803, conf, XTO, GBU Athena 31X-3D, 
• 40954, conf, Hunt Oil, Shell 153-89-8-17H 1,
• Wednesday, April 15, 2026: 43 for the month, 43 for the quarter, 200 for the year,
• 41802, conf, XTO, GBU Athena 31X-3G, 
• 40867, conf, Hess, RS-Piepkorn-155-92-1208H-2, 

RBN Energy: US feedgas holds strong and Commonwealth LNG nears final investment decision (FID). Link here. Archived. 

U.S. LNG feedgas is still operating at peak levels, averaging about 19.4 Bcf/d, down 0.08 Bcf/d from the previous week. The only minor disruptions have been tied to pipeline maintenance and several key pipelines have upcoming work scheduled, which may disrupt feedgas availability later this month and into May.

Commonwealth LNG has largely completed commercialization of its 9.5 MMtpa export terminal (1.3 Bcf/d) and is approaching a final investment decision (FID). It is under development by Caturus (formerly Kimmeridge Energy) near Cameron, LA (see picture below). The project has obtained all required regulatory approvals. 

Caturus has indicated FID could come in a matter of weeks (see our blog on how an LNG project reaches FID in Greenlight). As part of recent agreements, existing offtakers EQT and Glencore each agreed to increase their commitment by an additional 1 MMtpa (0.13 Bcf/d) from Commonwealth LNG. Caturus has said it has secured sufficient commercial commitments to move forward and, on April 7, issued a notice to its engineering, procurement, and construction (EPC) contractor, Technip Energies, to advance work ahead of FID.