Overseas

High hopes for budding overseas exports of liquefied natural gas (LNG) dominate an ambitious economic growth forecast made last week by British Columbia Premier Christy Clark. Of C$25 billion (U.S. dollar at par) in investment anticipated by Clark within 10 years, her Liberal government is relying on LNG for C$18 billion or 72% of the total.

High hopes for budding overseas exports of liquefied natural gas (LNG) dominate an ambitious economic growth forecast made Monday by British Columbia Premier Christy Clark. Of C$25 billion (U.S. dollar at par) in investment anticipated by Clark within 10 years, her Liberal government is relying on LNG for C$18 billion or 72% of the total.

The U.S. onshore natural gas industry is helping to fuel recent gains in domestic manufacturing, the White House said in a report Wednesday.

Nexen Inc., whose portfolio is spread across North America and overseas, on Tuesday laid out its 2012 strategy, which includes new drilling in the Gulf of Mexico (GOM) and taking as a partner Japan’s largest exploration and production (E&P) company to ramp up unconventional natural gas development in northeastern British Columbia (BC).

An investor group led by Kohlberg Kravis Roberts & Co. LP (KKR) has agreed to pay $7.2 billion for Samson Investment Co. of Tulsa, one of the largest privately held exploration and production (E&P) companies in the United States. The deal gives KKR and its partners stakes in a number of unconventional resources plays.

The smell of success emanating from North American shale gas plays has wafted overseas, drawing foreign investors to joint ventures (JV) with U.S. producers. Eventually some of those foreign investors will be acquiring U.S. energy companies, Deloitte LLP consultants said.

With Marcellus Shale natural gas as its supply backbone, Dominion Cove Point LNG could be reconfigured to export liquefied natural gas (LNG) to overseas markets, Dominion CEO Thomas Farrell said Wednesday.

With Marcellus Shale natural gas as its supply backbone, Dominion Cove Point LNG could be reconfigured to export liquefied natural gas (LNG) to overseas markets, Dominion CEO Thomas Farrell said last week.

The abundance of North American natural gas and attractiveness of overseas markets have prompted a second announcement of plans to export liquefied natural gas (LNG) from the Lower 48. Freeport LNG and Macquarie Energy said last week they will develop export capability on the site of Freeport’s existing import terminal in Texas. Macquarie Energy is the North American energy marketing and trading arm of Australia’s Macquarie Group.