HOUSTON, May 4, 2017 /PRNewswire/ -- Midstream Business magazine will recognize the winners of its second annual Excellence Awards on May 24, 2017, at Hart Energy's third MIDSTREAM Texas conference and exhibition, held this year at the Midland County Horseshoe Pavilion in Midland, Texas.
"The midstream sector had a turnaround year in 2016," said Paul Hart, Midstream Business' Editor-in-Chief. "There were many remarkable stories of executives and firms who used this challenging time to prepare for a brighter future. We're pleased to recognize these nominees as the best of the best."
Midstream Business editors reviewed readers' nominations to select the year's top companies, deals and individuals. Here are the 2017 honorees:
Executive of the Year: Russell K. (Russ) Girling, President and CEO, TransCanada Corp.
A midstream veteran, Girling has successfully guided Calgary-based TransCanada through a tumultuous period. He joined TransCanada in 1994 following management assignments with Suncor Inc., Northridge Petroleum Marketing and Dome Petroleum Corp. He was named to his current roles in 2010.
The company's long-sought Keystone XL project received approval by the Trump Administration in April. When completed, the Keystone XL will complement its sprawling Keystone crude oil pipeline system that links western Canada's oil producers to the Cushing, Okla., trading hub, Midwest refiners and the Gulf Coast's refining and petrochemical network. In 2016, TransCanada closed on the acquisition of Columbia Pipeline Group in a U.S. $13 billion acquisition that gave TransCanada major assets in the natural gas transmission business.
He is a director of the American Petroleum Institute, the Business Council of Canada and a former chairman of the Interstate Natural Gas Association of America. TransCanada ranked No. 6 on the Midstream 50 list of Midstream Business magazine for 2016.
Deal of the Year: Enbridge Inc. acquisition of Spectra Energy Corp.
Announced in September 2016 and closed in February, the combination of two of the sector's largest players created a new midstream colossus with an enterprise value of U.S. $126 billion. On a pro forma basis, the combined firm could rank first in the Midstream 50 for 2017, ahead of such sector heavyweights as Kinder Morgan Inc. and Energy Transfer, which is becoming Sunoco Logistics Partners, and Enterprise Products Partners LP. For 2016, Enbridge ranked No. 4 on the Midstream 50 list while Spectra ranked No. 7.
Project of the Year: Nueva Era Pipeline and Howard Energy Partners
A significant midstream player in South Texas' Eagle Ford unconventional play, San Antonio-based Howard Energy announced plans for the Nueva Era natural gas pipeline at the end of 2015 and began construction in 2016. Service is scheduled to start this year. Its partner in the project is Mexico's Grupo Clisa.
Mexico's constitutional change that opened the nation to private energy development created significant opportunities for midstream firms to meet Mexico's swelling demand for gas and petroleum products. A comparatively small, privately held midstream player, Nueva Era represents significant growth in its asset base. The Nueva Era system will link Howard's Webb County, Texas, gas hub to Monterrey, the center of Mexico's industrial base. Nueva Era will include almost 200 miles of 30- and 36-inch pipeline with a capacity of up to 1 billion cubic feet per day; 504 million cubic feet per day is contracted to CFE, Mexico's electric utility, who is the project's anchor shipper.
About Hart Energy
For more than 40 years, Hart Energy editors and experts have delivered market-leading insights to investors and energy industry professionals. The Houston-based company produces award-winning monthly magazines (such as Oil and Gas Investor, E&P and Midstream Business); online news and data services; in-depth industry conferences (like the DUG™ conference series); GIS data sets and mapping solutions; and a range of research and consulting services through Stratas Advisors. For information, visit hartenergy.com.
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SOURCE Hart Energy