Economy

Natural gas last year expanded its share of the global energy mix even though demand growth was hindered by a weak economy in Europe, according to the International Energy Agency (IEA), which said the United States was a standout among gas-producing countries.

Natural gas-hungry Japan is knocking on Alaska’s door, but the world’s third-largest economy won’t wait forever for liquefied North Slope gas — or pay dearly for it. The message to state lawmakers and the energy industry: hurry up with cost-competitive supply — or you’ll add even more years to the decades-long effort to commercialize those long-stymied gas reserves.

Natural gas-hungry Japan is knocking on Alaska’s door, but the world’s third-largest economy won’t wait forever for liquefied North Slope gas — or pay dearly for it. The message to state lawmakers and the energy industry: hurry up with cost-competitive supply — or you’ll add even more years to the decades-long effort to commercialize those long-stymied gas reserves.

While the debate rages over whether exporting liquefied U.S. natural gas is a good idea, stocks of natural gas liquids (NGL) are so abundant, export of some is viewed as a necessity. And in the United States, more chemical sector demand can’t come fast enough.

The Colorado Oil and Gas Conservation Commission (COGCC) reconvened Thursday in Denver, but was unable to resolve lingering issues and delayed until Feb. 11 finalizing new setback requirements for oil and natural gas wells.

After relying on industry voluntary actions regarding drilling setback and water sampling approaches, Colorado regulators are poised to establish new mandatory rules covering exploration and production (E&P) companies.

The natural gas vehicle (NGV) sector was one part of the economy that benefited from Congress’ fiscal cliff action on Tuesday, gaining new life from the extension of clean vehicle tax incentives.

Sluggish economy and demand have gas market continuing to search for markets, analyst says. read more

Braskem America on Wednesday agreed to take over some of the petrochemical operations at the old Sunoco Marcus Hook Industrial Complex south of Philadelphia with a $56 million infusion and another $15 million in state support that preserves more than 100 jobs and creates at least 28 more.