Natural Gas News – July 13, 2020

By Published On: July 13, 2020Categories: Daily Natural Gas Newsletter

Nat Gas News – July 13, 2020

Berkshire’s bet on LNG underscores value of existing export facilities

Warren Buffett decided to bet on U.S. LNG at a time of tremendous uncertainty for global gas markets. Global LNG demand has taken a massive hit from the coronavirus pandemic and could take years to recover. Utilization rates at the six major U.S. LNG export terminals have plunged amid a wave of cargo cancellations, and developers of new U.S. LNG projects face major difficulties in advancing their facilities to construction. But Berkshire Hathaway Energy’s purchase of a 25% operating stake in Dominion Energy Inc.’s Cove Point LNG plant in Maryland illustrated that the Oracle of Omaha sees an enduring appeal in an existing U.S. LNG export terminal, a fully contracted asset that will generate cash for decades. It was part of a broader push into the midstream sector by the conglomerate through its $9.7 billion acquisition of Dominion’s natural gas transmission and storage business, announced July 5. For more on this story visit or click

US Midwest products prices due to rise from Dakota Access pipeline shutdown

Prices for gasoline and diesel in the US Midwest could rise in the coming months, market participants said, because of a US court ruling on Monday that ordered the largest pipeline from the North Dakota shale oil fields to be shut within a month. The line is the primary route for crude produced in the United States’ second-largest shale patch in the Bakken, and the oil is a staple for some refineries supplying the city of Chicago and the Midwest. The closure of Energy Transfer’s 570,000 barrel-per-day (bpd) Dakota Access oil pipeline (DAPL) will drive up the transport cost of crude to the refiners, or force them to pay for alternative supply from elsewhere. That will increase the cost of the fuel they produce. For more on this story visit or

This article is part of Daily Natural Gas Newsletter


Subscribe to our Daily Feed

Daily articles and insights from the fuel markets and natural gas space.


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.

Stay on Top of the Fuel Markets

FUELSNews, your daily source of marketing information and insights

Subscribe to our publications and newsletters