Natural Gas News – June 28, 2018
China To Become Most Influential Player In Natural Gas Markets
Oil Price reported: The unprecedented economic development of China created serious environmental problems starting in December 1978 after Deng Xiaoping’s ‘opening up policy’. The Asian country transformed from a developing nation into a powerful state, able to confront the United States in a trade war. Pollution in the industrialized and heavily populated coastal regions has reached extremely high level, threatening the stability in the country, discrediting the mighty Communist Party. Therefore, it comes as no surprise that the government is promoting cleaner fuels and production methods. China is the biggest investor in renewables in the world: three of the ten biggest wind turbine producers and seven of the ten biggest solar panel producers are located in China (eight if you also count Hong Kong). Also, Beijing is the biggest investor in green technologies. Until 2020 China intends to invest an additional $360 billion in its renewables energy sector, making the country the undisputed leader in this field.
Natural Gas Execs See ‘Century of Supply’ in U.S. Shale
Oil Price reported: Natural gas production from U.S. shale fields can keep growing for decades, giving Washington a powerful diplomatic tool to counter the geopolitical influence of other energy exporters such as Russia, industry executives and government officials said at a conference here. Already the world’s largest gas producer, the United States can expand shale gas output another 60 percent in the coming decades, according to at least one estimate. So far, liquefied natural gas (LNG) has been spared from retaliatory tariffs in U.S. President Donald Trump’s intensifying trade conflicts with China and other countries. “We see a century of natural gas supply in U.S. shale,” Ryan Lance, chief executive of U.S. shale producer ConocoPhillips said this week at the triennial World Gas Conference in Washington.