Natural Gas News – December 13, 2018
Natural Gas News – December 13, 2018
Exxon Mobil makes final investment decision to develop Australian natural gas project
Reuters reported: Exxon Mobil Corp has made a final investment decision to develop the West Barracouta gas field in the Bass Strait to bring new gas supplies to the Australian market, it said in a statement on Thursday. The project, located off the shore of the state of Victoria, is part of Exxon’s continuing investment in the Gippsland Basin in Australia, an area rich in oil and gas, Exxon said. For more on this story visit reuters.com or click https://reut.rs/2ry9BlQ
When it comes to natural gas, US ‘open for business’
Boston News reported: Last November, diplomats from Brazil to Japan joined oil and gas executives at the headquarters of Washington’s largest lobbying group to christen a new partnership. Inside the marble walls of the U.S. Chamber of Commerce, a crowd of 200 welcomed the U.S. Gas Infrastructure Exports Initiative — a coalition of 25 companies, nine trade groups, five law firms, at least five federal agencies and a nonprofit think tank. Its mission: to drive sales of American natural gas by pumping dollars into pipelines and gas-processing facilities overseas. The initiative, coordinated in part by a natural gas lobbyist, is the latest federal effort to market the fuel as a “clean” energy source amid surging U.S. drilling and exports. American gas production is projected to account for almost 40 percent of the world’s gas growth through 2040, according to the International Energy Agency. Countries like China are buying up tank loads of LNG — natural gas that has been supercooled to liquefy it — to generate power, heat buildings and fuel trucks. “When it comes to exporting LNG, the United States is open for business,” Mark Menezes, undersecretary of the U.S. Department of Energy, assured the audience at the launch of the gas initiative. Menezes, a former utility industry lobbyist, added that exporting U.S. liquified natural gas is “clearly in our economic interest.” For more on this story visit boston.com or click https://bit.ly/2PAQBMY
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
