Nat Gas News – April 4, 2017
Nat Gas News – April 4, 2017
In the News
Qatar to Drill in World’s Biggest Gas Field After 12-Year Freeze
Bloomberg reports: Qatar Petroleum plans to start a new development in the offshore North Field, ending a 12-year ban on new projects that allowed the company to assess how its current rate of extraction affects the giant reservoir it shares with Iran. The patch, in the southern section of the field, will have a capacity of 2 billion cubic feet per day, or 400,000 barrels of oil equivalent, and should start production in five to seven years, Chief Executive Officer Saad Sherida Al Kaabi told reporters Monday at Qatar Petroleum’s headquarters in Doha. By ending the moratorium and earmarking new volumes for exports, QP is giving itself the fuel necessary to reclaim the top spot among LNG exporters it will relinquish to Australia in 2019, if it wants it. Al Kaabi said the company hasn’t decided if exports will be in the form of LNG, or other products. If it goes for the super-chilled fuel, the new production can be converted to 15.3 million tons of LNG a year. Qatar currently produces about 77 million tons annually. For more visit bloomberg.com or click http://bit.ly/2oStJMm
NAmerico unveils natural gas pipeline plan to relieve Permian glut
Reuters reports: NAmerico Partners LP is proposing a multibillion- dollar pipeline to ferry natural gas from fast-growing fields in West Texas to the Gulf Coast, the company said on Monday, angling to match plans by rivals such as Kinder Morgan. The pipeline would be the first major project by NAmerico Partners, founded two years ago in Houston. The company is backed by private equity fund Cresta Energy LP, whose management includes former executives from Regency Energy Partners LP, a large energy infrastructure company that was bought by Energy Transfer Partners (ETP.N) in 2015. Demand for natural gas in south Texas and the Corpus Christi area is expected to soar in the coming years. For more visit reuteres.com or click http://reut.rs/2nR17n5
This article is part of Daily Natural Gas Newsletter
Tagged: natural gas, prices
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