Natural Gas News – March 12, 2019
Natural Gas News – March 12, 2019
Lukoil To Release New Natural Gas Strategy This Autumn
S&P Global reported: Russia’s Lukoil is updating its natural gas strategy, which it plans to present this autumn, the company’s CEO Vagit Alekperov said Monday. Lukoil, Russia’s second-largest crude producer, currently has a “very unique resource base,” with gas resources in West Siberia, the Caspian Sea and central Russia, he said at CERAWeek by IHS Markit. The company currently does not export its own gas, but sells it to Gazprom, which handles the exports, Alekperov said. Lukoil has long-term contracts in place with Gazprom, he said. Lukoil’s new strategy would involve developing petrochemical facilities with Gazprom and getting higher prices for its gas supplies, Alekperov said, without providing details. For more on this story visit spglobal.com or click https://bit.ly/2VTPmwe
West Virginia Lawmakers Pass Bills To Expedite Natural Gas Output, Transport
S&P Global reported: Legislation West Virginia lawmakers passed in their recently concluded legislative session is expected to encourage the construction of distribution pipeline systems in underserved areas of the state, as well as to give a tax break to production from low-producing gas wells. Among the bills passed during the session, which closed Saturday, was House Bill 2661, which allows natural gas utilities to provide incentivizes for gas drilling “where dependable, lower-priced supplies of natural gas are not readily available.” The legislation, which awaits the signature of Governor Jim Justice, will help encourage the utilities to build new gas gathering systems in areas of the state “where there haven’t been wells drilled in the last several years,” Charlie Burd, executive director of the Independent Oil & Gas Association of West Virginia, said Monday in an interview. HB 2661 was just one of several pieces of legislation that the lawmakers passed, which are expected to help increase the state’s output of gas, Burd said. For more on this story visit spglobal.com or click https://bit.ly/2Hgiydw
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