Natural Gas News – April 25, 2023
Natural Gas News – April 25, 2023
Why U.S. Gas Production Is Growing So Fast
U.S. natural gas production is booming. The country is pumping so much of the commodity that prices have dropped to multi-year lows after last year, soaring to over $7 per mmBtu amid the European energy crunch. Now, U.S. benchmark gas is trading around $2 per mmBtu and likely to remain at this level for the observable future. Because of associated gas. Just four shale basins in the United States are currently producing some 36 billion cubic feet of associated gas daily. Those are the Permian, the Eagle Ford, the Niobrara, and the Bakken. And the reason they are producing so much is that oil production is also on the rise. Because of higher prices. “About a third of U.S. gas production is associated gas – produced from oil wells,” Jacques Rousseau, a managing director at research firm ClearView Energy Partners, tol… For more info go to https://bit.ly/3H9uqv6
U.S. Stresses Importance Of LNG For Europe
Russian President Vladimir Putin belied that his invasion of Ukraine in 2022 would go largely unopposed by the U.S. and its allies for the same reason that he was able to invade the country in 2014 and annex Crimea. That is, that the non-U.S. part of the North Atlantic Treaty Organization (NATO) – Europe – would not to risk being cut off from the cheap and plentiful supplies of Russian gas that they had been using for decades to power their economies. He was wrong this time, for a variety of reasons analysed in my new book on the new global oil market order. Not only were the NATO allies not prepared to roll over this time in favour solely of their own interests but Putin’s actions in Ukraine have re-energised the U.S.-led security, economic, and energy alliance comprising most European co… For more info go to https://bit.ly/3mWcayB
This article is part of Daily Natural Gas Newsletter
Tagged: natural gas
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