Nat Gas News – July 5, 2017

Nat Gas News – July 5, 2017

Oil And Natural Gas Demand Set Records While Coal Slumps

Forbes reports: Last month the BP Statistical Review of World Energy 2017 was released. There is currently no energy source with such a long and consistent track record of demand growth as natural gas. The U.S. is the world leader in both consumption and production of natural gas. The 75.1 billion cubic feet (BCF) the U.S. consumed in 2016 was more than the entire Asia Pacific region consumed, and was nearly double the 37.7 BCF consumed by Russia, the world’s second largest consumer. Natural gas production exploded in the U.S. as a result of the shale gas boom, growing by nearly 50% from 2006 to 2015. U.S. trade in natural gas also surged in 2016. Pipeline exports of natural gas grew 23% over 2015, primarily driven by growing trade with Mexico. Liquefied natural gas (LNG) exports from the U.S. increased from 24 billion cubic feet in 2015 to 155 billion cubic feet in 2016. For more on this story visit forbes.com or click the following link http://bit.ly/2szW9kc

South Korea Is Very, Very Interested in U.S. Natural Gas

Bloomberg reports: If there’s one thing that became clear during the White House’s “Energy Week,” it’s that South Korea is really, really into U.S. natural gas. In less than 24 hours, South Korea’s energy companies had announced four partnerships with U.S. companies to explore opportunities in the U.S. natural gas business. Korea Gas Corp., the state-owned gas supplier, said it’ll look into potential investments in liquefied natural gas projects in Alaska, Texas and Louisiana. SK Groupsigned an agreement with General Electric Co. and Continental Resources Inc. to pursue shale gas developments. Trump said Friday that the two countries would do more to remove barriers to market access. For more visit bloomberg.com or click https://bloom.bg/2tK1nu0