Celanese Corp. plans to construct a methanol production facility at its Clear Lake, TX, acetyl complex to take advantage of abundant natural gas supplies in the region, the company said. “The positive developments in the U.S. energy complex and the current and emerging natural gas surplus make it advantageous for us to produce our own methanol requirements for U.S. acetyl production,” said CEO Mark Rohr. “Utilizing existing Celanese infrastructure helps reduce capital requirements while capturing advantages of state-of-the-art technologies.” Following necessary approvals, Celanese intends to construct a 1.3 million metric ton per year facility with anticipated start-up after July 1, 2015. A significant portion of the methanol produced would be used to support the company’s current operations, Celanese said, adding that it expects to partner with one or more others interested in the remaining methanol.
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The Energy Information Administration (EIA) has revised downward by 21% its projection for natural gas prices this year, citing abundant storage levels and prolific production.
Capping off a string of regulatory actions that have been favorable to the oil and natural gas industry — and somewhat embarrassing to the Environmental Protection Agency (EPA) — the regulator has said it will delay the release of final air pollution standards for hydraulic fracturing (fracking) for two weeks.
Royal Dutch Shell plc is working on ways to leverage its abundant natural gas resources in North America with plans on the table for liquefied natural gas (LNG) exports, gas-to-liquids (GTL) and gas-to-chemicals facilities, as well as LNG for transport, CEO Peter Voser said last week. “These are value chain projects, which very much play to Shell’s strengths.”
Royal Dutch Shell plc is working on ways to leverage its abundant natural gas resources in North America and now has plans progressing for liquefied natural gas (LNG) exports, gas-to-liquids (GTL) and gas-to-chemicals facilities, as well as LNG for transport, CEO Peter Voser told financial analysts Thursday. “These are value chain projects, which very much play to Shell’s strengths.”
In response to low natural gas prices, Chesapeake Energy Corp. on Monday said it would “immediately” curtail 0.5 Bcf/d, or 8% of its current operated gross natural gas output, which is 6.3 Bcf/d. As much as 1 Bcf/d could be curtailed “if conditions warrant.”
Abundant natural gas, including shale, is playing a significant role in continuing the three-year slide in electric power prices and the downbeat outlook for independent power producers, say analysts.
Supported by abundant unconventional natural gas and oil reserves, the United States and Canada will become “almost totally energy self-sufficient” by 2030, according to a new forecast by BP plc.
Producers in the Eagle Ford Shale of South Texas are having to take the bad with the good. The good: abundant oil and liquids-rich gas production in an era of very low dry gas prices. The bad: a dearth of infrastructure to handle the play’s robust output.