Archive for the ‘natural gas’ Category

Quantifying the oversupply of US natural gas

This time a year ago, the United States produced about 66 Bcf/d of natural gas and the national average price of next-day delivered natural gas was $4.59/MMBtu. Today, the US is producing roughly 72 Bcf/d of natural gas and the average national price of next-day delivered gas, as of April 13, was $2.35/MMBtu. It is safe to say that we are in an environment of depressed prices and surplus supply.

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A shale gas wealth fund for northern England, but what about the south?

The UK’s Conservative party, running neck-to-neck in the polls with the Labour party ahead of the country’s May 7 general election, has released its 2015 manifesto. Among the commitments is a pledge to establish a shale gas wealth fund for the north of England.

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Private companies struggle for Russian offshore opportunities: Regulation and Environment

Ask most people about Russian oil and gas production, and they’re likely to bring up the two giants: Rosneft and Gazprom. But private companies are possibly in a position to see their roles change in the country’s oil landscape, as Rosemary Griffin describes in this week’s Oilgram News column, Regulation and Environment.

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Shell capitalizes on low oil to drive advancement for gas, LNG

Shell has become the first major to take proper advantage of the low oil price, taking out a company that it has long been interested in buying: BG. And the reason is a good one: not growth for its own sake but using BG’s assets to help it achieve its own goals faster. The transaction is underpinned by BG’s asset value, it said.

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Refracs raise questions about further US oil production: At the Wellhead

While technology can now let companies go back to wells and further spur oil production, it remains a question whether refracs are the best option in the current crude price environment, as Starr Spencer explains in this week’s Oilgram News column, At the Wellhead.

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The UK may lose a large part of its gas storage, but does it matter?

It went largely unnoticed by the general media, but last week there was a significant announcement for the UK gas industry: the country’s main gas storage site may have its capacity cut by around a quarter, reducing the volumes that can be held in reserve next winter.

Just two years ago, during a cold winter, there were warnings that the country “was just six hours away from running out of gas.” So why would storage capacity be cut now, and does it matter? Read the rest of this entry »

Europe: The perennial LNG sponge

This winter saw record volumes of LNG arriving on the shores of Europe, as cargoes sought value in an environment of weak LNG spot pricing. Cargoes flowed in from not only Qatar, but also from production sites like Trinidad and Tobago as portfolio players sought to optimize volumes into Europe while purchasing Asia Pacific delivery cargoes elsewhere to fulfill existing commitments.

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At the Wellhead: Thailand’s oil, gas exploration under pressure

Thailand is in a difficult position when it comes to procuring enough oil and gas for its growing needs. Myanmar, a country that provided much of Thailand’s gas, needs to keep more of its production for its own needs, and production from Thailand’s declining reserves is being held up by the government. Mriganka Jaipuriyar explains the country’s position in this week’s Oilgram News column, At the Wellhead.

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The hearty, hardy gas production of the US

It seems like only yesterday that big winter storms or other extreme weather events could curtail or shut natural gas production in the US. A winter storm and freezing temperatures in the Northeast or in the Southeast would prompt freeze-offs or shut-ins along pipelines. But perhaps no longer.

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Australian oil and gas producers tighten belts

Just as their bigger international counterparts have moved quickly and decisively to cut capital expenditure by around 25% in the wake of the recent rout in oil prices, Australia’s oil and gas players have also been tightening their belts and reassessing asset values.

Amid moves that have left some analysts mildly surprised at the speed of the global industry’s reaction to the current downturn, the major Australian players have hit the pause button on spending.

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