Industries

Golar LNG Ltd. has contracted to build four 160,000-cubic meter liquefied natural gas (LNG) carriers with Korea’s Samsung Heavy Industries Co Ltd.

Gastar Exploration Ltd. announced Monday that it will lease about 3,300 gross acres in West Virginia from PPG Industries Inc. and plans to drill into the Marcellus Shale play as early as July.

Several state senators introduced legislation last week designed to help spur investment in the natural gas industry.

Some big names in energy and finance have found a new way to invest in the U.S. natural gas and power industries, putting together $2.1 billion to tap into the infrastructure side of the business through real estate investment trusts (REIT).

Labeling the success of China and other countries in clean energy industries as a new “Sputnik Moment” for the United States, U.S. Energy Secretary Steven Chu told an audience at the National Press Club in Washington, DC, Monday that America needs to mobilize its innovation machine “so that we can compete in the global race for the jobs of the future.”

Some big names in energy and finance have found a new way to invest in the U.S. natural gas and power industries, putting together $2.1 billion to tap into the infrastructure side of the business through real estate investment trusts (REIT).

Stung by a recent fine for allowing hydraulic fracturing (fracking) fluids to contaminate a watershed, Atlas Resources has set a goal of 100% reuse of flowback and production brine water as part of a strategy it believes is fundamental to sustainable operations in the Marcellus Shale.

New York Gov. David Paterson’s proposed plans to lay off hundreds of state employees could be scuttled at the Department of Environmental Conservation (DEC)if permitting fees from new Marcellus Shale wells were dedicated to staffing, the Independent Oil & Gas Association of New York (IOGA) said Monday.

Nabors Industries Ltd. on Monday said it offered to buy Superior Well Services Inc., a hydraulic fracturing (hydrofracing) pumping services specialist, in a transaction worth an estimated $900 million, including debt.