Nat Gas News – November 8, 2018

Nat Gas News – November 8, 2018

Russia Looks to Hydrogen as Way to Make Gas Greener for Europe

Bloomberg reported: Russia is looking at how to develop a market for hydrogen in Europe, a move that would help maintain demand for one of its primary exports as governments everywhere work to cut pollution. Gazprom PJSC, the Russian company that’s the dominant exporter of natural gas into Europe, is exploring ways to produce emissions-free hydrogen from its fuel and create a 153 billion-euro ($175 billion) a year market by 2050, according to a presentation executives from the company made in Brussels last month. That would be bigger than the $110 billion value of Europe’s existing natural gas supply last year. The effort would bring Russia in step with the government of Japan, oil major Royal Dutch Shell Plc and a handful of companies that are promoting fuel cells and hydrogen as an alternative to electricity generation and transportation fed by fossil fuels. For more on this story visit bloomberg.com or click https://bloom.bg/2qwtGbQ

China To Boost Shale Oil, Gas Production

Oil Price reported: China’s biggest energy producers are tapping more tight oil and gas wells, aiming to increase domestic oil and natural gas production at the world’s largest crude oil importer and what will soon be the world’s top natural gas importer. As part of a government push to boost domestic energy supply, China National Petroleum Corporation (CNPC) and Sinopec are raising investments to increase local oil and gas production and are accelerating drilling at tight oil and gas formations in western China, the companies have recently announced. Oil demand continues to grow in China, while domestic production has been declining in recent years. This has led to additional—and costly—imports, making China the world’s largest crude oil importer. For natural gas, a similar trend is apparent. A government drive to have millions of residents switch to natural gas from coal has resulted in China surpassing South Korea last year to become the world’s second-largest liquefied natural gas (LNG) importer behind Japan. For more on this story visit oilprice.com or click https://bit.ly/2yUe5HK

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