Natural Gas News – May 6, 2019
Natural Gas News – May 6, 2019
CHINA DATA: Q1 natural gas consumption rises 12% on year
S&P Global reported: China consumed 77 Bcm of natural gas over January-March, up 11.6% year on year, data from the National Development and Reform Commission showed. The growth in consumption in Q1 was slower than that of 17.4% in the same period of last year, according to data from NDRC. The government’s targets to reduce air pollution and move to cleaner burning fuels, exemplified by its Blue Sky Policy and the Five-Year Plan, was expected to continue to drive the country’s gas consumption. China produced 44.1 Bcm of natural gas in Q1, up 9.9% year on year, the NDRC’s data showed. The country imported 33.5 Bcm of natural gas in Q1, up 14% year on year, according to the NDRC data. For more on this story visit spglobal.com or click https://bit.ly/2H3AoyZ
This World-Class Shale Frontier Just Opened Up
World Oil reported: A region in Australia has recently lifted a moratorium on fracking. Local companies aim to begin this year exploration of what they believe are huge shale gas reserves, potentially capable of providing natural gas supply for decades and tackling a supply gap in Australia expected to emerge in the mid-2020s. Australian natural gas producers say that the shale gas fracking will create jobs and reinvigorate the economy of the Northern Territory, where the basins they want to explore are located. The Australian government also supports the idea of extracting gas resources from the Northern Territory (NT), considering that conventional offshore gas production from the south-southeastern coast is declining. However, potential commercial production of shale gas in the NT is at least half a decade away, because companies have yet to begin exploration of what they expect could be huge resources. Even if exploration proves commercially and technically extractable gas, the development of a shale gas industry is further complicated by the remoteness of the NT and lack of pipeline infrastructure to the biggest demand centers on Australia’s east and southern coasts. For more on this story visit worldoil.com or click https://bit.ly/2UZA208
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