Natural Gas News – December 3, 2018

Natural Gas News – December 3, 2018

Qatar Says It Will Leave OPEC and Focus on Natural Gas

NY Times reported: The tiny, wealthy Persian Gulf state of Qatar will withdraw from OPEC in January, the country’s energy minister said on Monday. The minister, Saad Sherida al-Kaabi, said the move would allow Qatar to focus on its gas industry and dismissed the idea that the withdrawal was connected to politics. Qatar is one of the smallest producers in the Organization of the Petroleum Exporting Countries, but it is the world’s largest exporter of liquefied natural gas, giving its citizens the highest per capita income of any country. In June 2017, Saudi Arabia and three other Arab nations imposed a travel and trade boycott on Qatar, accusing it of financing terrorism and interfering in the internal affairs of other states. No other countries have joined the boycott, and the United States, which has a large military base in Qatar, has sought to end the feud. For more on this story visit nytimes.com or click https://nyti.ms/2ritqgX

Duke Energy’s $1.5B Natural Gas Plant Comes Online in Florida

Zacks reported: Duke Energy Coporation recently announced that it has commenced the operation of its new state-of-the-art combined- cycle natural gas plant worth 1,640-megawatt (MW) capacity in Citrus County, FL. The company has incurred a capital investment of nearly $1.5 billion to build the high-tech natural gas facility in Citrus County, surrounding communities and Florida. The natural gas station is expected to generate energy for Floridians by generating cleaner and more efficient energy. As of 2017, the company had an energy generation mix of 34%, 33%, 28% and 5% from nuclear, coal and oil, natural gas and renewable, respectively. The company has set a new goal to lower its carbon emissions by 40% from the 2005 level within 2030. Also, natural gas is projected to attain 42% of the company’s electricity generation portfolio. The project became operational in two phases, firstly 820 MW of power block started running on Oct 26 while the second 820 MW power block came online on Nov 24. For more on this story visit zacks.com or click https://bit.ly/2zFyGzH

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