A Way to Halt Natural Gas Flaring Arrives on the Back of a Truck
Perched on the back of a semi-trailer is the latest weapon in tackling the problem of wasted natural gas that oil producers often vent into the air or even burn off at the wellhead. Cryobox takes fuel directly from wells and turns it into liquefied natural gas, which is easy to store and transport. For small gas fields uneconomical or too distant to connect to a traditional pipeline network, this small-scale LNG plant is a solution to absorb fuel that would otherwise be wasted. That also makes it a way to prevent greenhouse gas emissions that contribute to global warming and solve a growing problem for the industry. Wherever oil is produced, gas often follows. If there aren’t enough customers to take it away, the gas is often treated as a waste product and either burned off at the wellhead or allowed to escape into the air—flared or vented in the jargon of the industry.
Corning Natural Gas Holding Corporation Increases Dividend for Eleventh Consecutive Year
Corning Natural Gas Holding Corporation’s (Other OTC: CNIG) Board of Directors declared a common stock dividend for holders of record March 31, 2020. The common stock dividend of $0.1525/share, which is equal to an annualized rate of $0.61/share, is an increase of 5.2 % from the annualized rate of $0.58/share in 2019. “This is the 11th consecutive year the company has increased its dividend since reinstituting the cash dividend payment in 2009,” stated Mike German, CEO for the Company. The board also approved its 6% Series A Cumulative Preferred Stock and Series B Convertible Preferred Stock dividend for shareholders of record on March 31, 2020, payable on or about April 14, 2020. CNGHC is the parent company of Corning Natural Gas Corporation and Pike County Light and Power. CNGHC also owns 50% of Leatherstocking Gas Company and Leatherstocking Pipeline Company.
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