Natural Gas News – February 15, 2019
Natural Gas News – February 15, 2019
Shutdown of Historic Field Forces Dutch to Look Abroad for Gas
World Oil reported : After decades of supplying itself and its European neighbors with natural gas, an era has officially come to an end for the Netherlands. The country became a net importer for the first calendar year since it started production from the giant Groningen field in 1963. It joins European nations becoming increasingly reliant on sourcing fuel through pipelines from suppliers such as Norway and Russia or via tanker ships from the U.S., Qatar and elsewhere. The shift was inevitable after the nation of 17 million vowed to close Groningen following earthquakes linked to extraction from the deposit in the north. Production from what’s left at the site will continue to earn billions for the Dutch state, Royal Dutch Shell and Exxon Mobil for a few more years at least. For more on this story visit worldoil.com or click https://bit.ly/2GsYpk4
BP’s Vision of The Near Future Sees Renewable Power and Natural Gas Dominating Energy
CNBC reports: In a not-too-distant future, renewable energy becomes the world’s biggest source of power generation. A quarter of the distances that humans travel by vehicle will be in electric cars. U.S. dominance in the oil market begins to wane, and OPEC’s influence is resurgent, as crude demand finally peaks. That is the vision laid out by British oil and gas giant BP on Thursday in its latest Annual Energy Outlook. The closely followed report lays out a vision through 2040 for Earth’s energy future, provided government policy, technology and consumer preferences evolve in line with recent trends. BP forecasts that the world’s energy demand will grow by a third through 2040, driven by rising consumption in China, India and other parts of Asia. About 75 percent of that increase will come from the need to power industry and buildings. At the same time, energy demand will continue to grow in the transportation sector, but that growth will slow sharply as vehicles become more efficient and more consumers opt for electric cars. For more on this story visit kstp.com or click https://cnb.cx/2Id7PSr
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