Australian natural gas has become cheaper abroad than it is at home, prompting the government to introduce liquefied natural gas (LNG) export restrictions intended to secure supply for Australians.
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A quintet of trade associations representing the majority of U.S. pipeline operators engaged in transporting natural gas, natural gas liquids, crude oil, refined petroleum products and carbon dioxide, said Friday they support President Trump’s call for the use of American steel pipeline construction, but warn that there are serious hurdles to be overcome.
Regulators with Australia’s Competition and Consumer Commission (ACCC) said they are concerned that Royal Dutch Shell plc’s proposal to purchase UK-based BG Group plc could lead to higher natural gas prices, and they have postponed a decision on whether to approve the merger for two months.
Even in a depressed global oil market, keeping U.S. crude production tied up at home imposes a significant cost on U.S. producers, according to a Rice University researcher. Further, exporting crude would not raise domestic gasoline prices but would improve national energy security, he said.
Not exporting U.S. crude oil is leaving billions of dollars on the table to be scooped up by Saudi Arabia and Russia, oil and gas interests said at a Texas House joint committee hearing Monday where lawmakers considered resolutions urging Washington to set U.S. oil free and hasten export approvals for liquefied natural gas (LNG).
The Conservative government in Ottawa won high praise Friday from industry for a tax break for liquefied natural gas (LNG) plants that is forecast to help a little-known but widespread branch of domestic utility services as well as export schemes.
The United States could sustain strong economic growth, add more jobs and improve global energy security by expanding crude oil exports, ConocoPhillips CEO Ryan Lance said Wednesday.
It is unlikely that the Obama administration will allow the wholesale export of U.S. crude oil, but there is more wiggle room under current law to allow for incremental and/or targeted export of domestic crude than many realize, an energy lawyer told a Houston audience.