According to recent overseas media reports, U.S. multinational conglomerate General Electric (GE) is significantly expanding its natural gas operations by investing in offshore energy projects. The company has announced a major investment of over $100 million to form a limited partnership with Houston-based F-W Oil Exploration. This collaboration aims to develop natural gas production in the Gulf of Mexico, marking a strategic move into deeper offshore exploration and development.
In addition to this, GE is also planning to finance a 48-mile natural gas pipeline project. This pipeline will transport up to 12 million cubic feet of gas per day from F-W’s South Padre Island gas field, located 12 miles off the coast of Texas. Through this partnership, GE’s energy and financial services division will gain access to approximately $1.5 billion in oil and gas reserves, including daily production of over 140 million cubic feet of natural gas and 31,000 barrels of crude oil.
A senior executive from GE’s oil and gas division highlighted that investing in offshore projects has opened up new growth opportunities for the company. It allows GE to leverage its technological expertise and financial capabilities in pipeline infrastructure, helping meet rising demand in increasingly tight energy markets. The company is also ramping up its investments in natural gas pipeline networks.
In July, GE partnered with Canada’s largest institutional investor to acquire a vast natural gas pipeline system spanning more than 6,000 miles for $362 million. This acquisition further strengthens GE’s position in the energy sector and supports its long-term strategy of expanding into clean energy and sustainable infrastructure. With these developments, GE is clearly positioning itself as a key player in the evolving global energy landscape.
SAMe For Health
Changshu Enzyme Biotechnology Co., Ltd. , https://www.nmnglutathione.com