Natural Gas News – March 23, 2018

Natural Gas News – March 23, 2018

Shale Gas May Rescue Appalachian Economies if it can Win Public Acceptance

Forbes reported: Coal’s downfall has exacerbated Appalachia’s economic struggles. But the emergence of shale gas has the potential to help liberate the region, although critics are concerned that such production would also leave an indelible environmental footprint that could do more harm than good. In-deed, a study just released says that the Utica and Marcellus Shale basins will provide 37% of the nation’s natural gas production by 2040, making it the best place nationally for manufacturers to invest — even more than the Gulf Coast. IHS Markit concludes that the region, which is made up of Ohio, Pennsylvania and West Virginia and which it calls Shale Crescent USA, will “provide a significant financial advantage” when compared to the Gulf Coast. It specifically refers to chemical plants, which would use “wet” natural gas as a feedstock to manufacture end products like plastics. Those so-called natural gas liquids are comprised of such chemicals as butane, ethane, methane and propane. The analysis adds that the Ohio, Pennsylvania and West Virginia have an advantage because their supplies are closer to where the shale gas would be consumed, and because of abundant fresh water supplies. For more visit forbes.com or click http://bit.ly/2HYWK2t

Natural Gas Demand to Stay High on Cold Weather Forecast

24/7 Wall St reported: The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks decreased by 86 billion cubic feet for the week ending March 16. Analysts were expecting a storage withdrawal between 86 billion and 96 billion cubic feet. Natural gas futures for April delivery traded up about 0.8% in advance of the EIA’s report, at around $2.65 per million BTUs. For more visit 247wallst.com or click https://bit.ly/2DNVNY8