The shale gas industry contributed $76.8 billion to U.S. gross domestic product (GDP) and supported more than 600,000 jobs in 2010, but that’s just the tip of the iceberg, according to a report issued Wednesday by the World Economic Forum (WEF) at IHS CERAWeek 2012 in Houston.
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Supported by abundant unconventional natural gas and oil reserves, the United States and Canada will become “almost totally energy self-sufficient” by 2030, according to a new forecast by BP plc.
Attractive margins, supported by shale plays, are driving producers and consumers to perpetuate a boom in natural gas liquids (NGL) while midstream infrastructure is running to keep up with demand, Enterprise Products Partners LP COO Jim Teague said last week.
DCP Midstream Partners LP will construct a 200 MMcf/d natural gas processing plant in the Eagle Ford. The $120 million Eagle Plant project will be supported by a 15-year fee based agreement to process the company’s natural gas volumes. The facility, which will compliment the company’s five existing processing plants and capacity of 800 MMcf/d in South Texas, is expected to be completed during 4Q2012.
With eight stations under construction and siting identification work begun for 60 more, a national $150 million effort supported by Chesapeake Energy Corp. is on track to have a corridor of 150 natural gas fueling stations in place in the next few years, according to Andrew Littlefair, CEO of Clean Energy Fuels Corp., speaking on a second quarter earnings conference call that reported increased revenues, but a loss in quarter-over-quarter results.
Attractive margins, supported by shale plays, are driving producers and consumers to perpetuate a boom in natural gas liquids (NGL) while midstream infrastructure is running to keep up with demand, Enterprise Products Partners LP COO Jim Teague said Tuesday.
FERC Friday issued a favorable environmental assessment of Inergy subsidiary Central New York Oil and Gas Co.’s (CNYOG) MARC-I Hub Line Project that would allow for the delivery of additional Marcellus Shale and Trenton Black River natural gas to Northeast markets.