A Dow Chemical Co. executive said he believes the chemical industry will need several additional Bcf/d of natural gas in as little as two-years’ time, when a long list of petrochemical plant projects begin to come online. It’s a demand that should be easy to meet, he said, as long as the United States hasn’t given away its competitive advantage in the marketplace — a gift from shale gas — through the undisciplined export of liquefied natural gas (LNG).
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Dow Exec Sees 90 Manufacturing Projects Planned Using 7 Bcf/d
A Dow Chemical Co. executive said he believes the chemical industry will need several additional billion cubic feet per day of natural gas in as little as two-years’ time, when a long list of petrochemical plant projects begin to come online. It’s a demand that should be easy to meet, he said, as long as the United States hasn’t given away its competitive advantage in the marketplace — a gift from shale gas — through the undisciplined export of liquefied natural gas (LNG).
Marcellus Still Hasn’t Gotten the Memo on Production Cuts
Despite dry gas production curtailments and rig lay-downs nationwide, Northeast production will grow by 1 Bcf/d from its current 8.3 Bcf/d by the end of the year as the Marcellus Shale “seems impervious to the unfavorable economics,” Bentek Energy LLC said in its Forward Curve Quarterly.
Native Americans Feel Left Out On Final Fracking Rules Development
Native Americans claim they were unable to add input in the Bureau of Land Management’s (BLM) negotiations on the final rules that will regulate hydraulic fracturing (fracking) of oil and gas operations on public lands. Absent this input, some of the tribal leaders claimed the rules could impede their ability to develop their energy resources.
PG&E Pipe Safety Upgrade Plan Funding Stalled
Already subjected to pointed criticism from regulators and lawmakers, a $2.2 billion, four-year plan for enhancing Pacific Gas and Electric Co.’s (PG&E) natural gas pipeline system is not likely to be approved by the California Public Utilities Commission (CPUC) anytime soon, PG&E utility President Chris Johns told financial analysts Thursday on an earnings conference call.
Eagle Ford Production Targeted for LNG Export
The backers of multiple U.S. projects to liquefy and export domestic gas have all pointed to robust production coming from shale plays as the reason for their plans. The latest proposal by Cheniere Energy Inc. singles out the Eagle Ford Shale as a source of gas to be liquefied.
Weather Trumps Positive Economic Data; November Falls Again
November natural gas continued its march lower Monday as traders pointed to a pervasive technical downtrend, and the weather outlook suggested more mild temperatures across the Midwest. Positive economic figures were not enough to halt the trend. At the close November had fallen 4.9 cents to $3.617 and December had given up 3.4 cents to $3.928. November crude oil dropped $1.59 to $77.61/bbl.
Report: Europe and U.S. Must Share on Shale
Much like rock ‘n’ roll, kick starting successful unconventional gas development in Europe will depend on the United States sending best practices and technical know-how across the Atlantic, according to a new report.
Mild Temps, Screen Dive Push All Points Lower
Moderate to cool conditions were still dominating the overall forecasts, and as a couple of sources had pointed out, Thursday’s 24.8-cent screen plunge “practically guaranteed” lower prices Friday. They were correct as quotes fell across the board from about C5 cents to 30 cents or so; all drops were in double digits except for those at Empress and NOVA Inventory Transfer in Western Canada.
Despite Bearish Storage and Futures, Cash Prices Climb
Natural gas prices made modest gains in most North American markets Thursday, surprising most sources polled by NGI, who pointed to continued bearish fundamental factors and a futures market that showed little sign of rebound.