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.
Posts Tagged ‘shale gas’
By Chris Pedersen | April 17, 2015 01:00 PM Comments (3)
By Alex Froley | April 15, 2015 06:00 AM Comments (0)
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.
By Rodney White | August 5, 2014 12:01 AM Comments (0)
Practicing politics in Massachusetts must be like steering a ship toward a safe harbor while running away from a hurricane. Certainly Massachusetts Governor Deval Patrick, who is being battered by environmentalists, must feel that way.
By William Powell | July 10, 2014 12:01 AM Comments (1)
The fate of US LNG import terminal projects was sealed as the amount of relatively low-cost gas produced onshore soared in the middle of the last decade. Most of them were scrapped before getting off the drawing board, but the more advanced of them, notably Cheniere’s Sabine Pass, went on to become export terminals, in a radical and apparently successful bid to salvage their backers’ fortunes.
That well-documented transformation was only made possible by the yawning price difference opening up between the depressed Henry Hub and the rest of the world.
By J Robinson | July 4, 2014 12:01 AM Comments (0)
Imports of liquefied natural gas to Latin American are up 18% so far this year, according to Bentek, a unit of Platts, buoyed by growing demand from Mexico and Brazil. But, with so much recoverable indigenous supply, why is Latin America paying top dollar for imported gas?
According to the US Energy Information Administration, technically recoverable shale gas resources in Argentina are the second largest globally at 802 trillion cubic feet, Mexico’s reserves are the sixth largest at 545 Tcf, while Brazil ranks tenth with reserves estimated at 245 Tcf.
Accessing these shale reserves requires political will and costly investments, factors that have combined in various ways across the region to impede domestic production and make LNG an easy, though short-sighted solution to growing demand for electricity in Latin America.
By Ross McCracken | June 18, 2014 03:53 PM Comments (1)
To visit an energy conference in New York, or perhaps anywhere in the United States, is to feel the full force of the shale gale that has swept across the US oil and gas industry, transforming the country’s domestic and foreign perspectives. Its founding fathers have achieved legendary status and are provided the veneration that only America appears capable of giving business leaders.
Shale is variously described as a “revolution,” even a “miracle.” Benjamin Schlesinger, president of Benjamin Schlesinger and Associates, went that one step further to state that “natural gas is a renewable fuel.”
This was the international conference of the International Association for Energy Economics held in New York from June 15-18, where it was clear that America is the cat that has got the cream. It is the crucible of the revolution in drilling technology that has reduced the cost of previously unrecoverable oil and gas resources to affordable levels, and it is beginning to export those technologies to the rest of the world. It no longer has to concern itself with existing and emerging import dependencies. Instead it is discussing the possibility that it may soon be a net exporter of oil.
By Alex Froley | April 15, 2014 06:50 AM Comments (0)
Over 8% of the deaths in some parts of London may be attributable to long-term exposure to man-made particulate air pollution, according to a new study from UK government body Public Health England.
The figures are highest for Kensington & Chelsea and Westminster (both at 8.3%), followed by Tower Hamlets, the local authority containing the international trading center of Canary Wharf (8.1%). In some rural parts of the UK the level is much lower, at around 2.5%.
By Bernardo Fallas | April 10, 2014 06:06 PM Comments (1)
The US petrochemical industry has the money, the cheap feedstocks, the technology and the projects to boom in a way perhaps never seen thanks to shale gas.
What it lacks is enough skilled labor to see these projects through. And as industry players will tell you, that’s a huge problem.
“This problem isn’t going to go away,” Dow Chemical VP Jim Fitterling said at the recently held IHS World Petrochemical Conference in Houston. “In fact, it has the potential to get worse.”
By Christine Forster | April 7, 2014 12:01 AM Comments (1)
By Samantha Santa Maria | January 14, 2014 03:45 PM Comments (1)
After the wallop of the polar vortex earlier this month that sent US gas demand and US Northeast gas prices soaring to all-time highs, one would think that the worst is over, no?
That would be a negative.