Natural Gas News – February 1, 2018

Natural Gas News – February 1, 2018

First Natural Gas Export Terminal Opens on East Coast

Tribe Live reported: Washington Examiner reported: Dominion Energy opened the first natural gas export terminal on the East Coast the day after President Trump touted energy exports as a national priority in his State of the Union speech Tuesday night. Dominion announced Wednesday that its Cove Point liquefied natural gas export terminal in Lusby, Md., was beginning production, with Shell providing the natural gas for export into the global market. The administration also held a meeting with the Mideast nation of Qatar Tuesday about the energy giant’s plans to invest in an LNG facility in Texas. The U.S.’s recent status as both a leading oil and natural gas producer as a result of the shale energy boom is attracting investment and making the country a global player across energy markets. The $4 billion Cove Point facility is one of the largest construction projects in Maryland, providing more than 10,000 jobs, with $565 million in payroll, the trade group said. For more on this story visit washingtonexaminer.com or click http://washex.am/2s4nV91

BP Predicts Natural Gas Will Be World’s Main Fossil Fuel By 2040

Oilprice.com reported: British Petroleum anticipates that natural gas will take over oil as the world’s main fossil fuel energy source by the year 2040, according to a new report by Reuters. Demand growth for gas—in just China alone—will rise 15 percent year-over-year, while global demand increases by 1.6 percent annually for a number of years. The oil demand curve, on the other hand, will slow to 0.8 percent growth in the meantime. A previous forecast by the U.K.-based company said oil’s share of global fossil fuel markets would shrink from 33 percent to 30 percent by 2035. Most of the gains would go to natural gas, which is considered better to the environment due to lower carbon emissions. For more visit oilprice.com or click http://bit.ly/2ntXBjy