Natural Gas News – December 8, 2017

Natural Gas News – December 8, 2017

BLM Suspends Natural Gas Waste Standards

Public News Service reported: DENVER – On Thursday, the Bureau of Land Management suspended a rule designed to limit the waste of natural gas on publicly-owned lands until January of 2019. According to the Environmental Defense Fund, delaying the rule could mean a loss of $330 million worth of natural gas or more, enough energy to meet the heating and cooking needs of one-and-a-half million homes for a year. Gwen Lachelt, a La Plata County Commissioner, and the executive director of Western Leaders Network, says the delay also means fewer royalties for taxpayers on the lost natural gas. She adds the move could also have significant health implications. “It’s also very important to the Four Corners region where I live, where we live under the largest methane cloud in North America because of the tens of thousands of natural gas wells that are leaking,” she says. The Western Energy Alliance welcomed the delay, in part because companies now won’t have to pay for equipment needed to prevent waste while the Trump administration works to roll back protections. For more visit pulbicnewservice.org or click http://bit.ly/2AHQETy

China’s November natural gas imports hit record, crude shipments rebound

Reuters reported: BEIJING (Reuters) – China’s natural gas imports in November rose to a record as domestic demand surged while crude imports were the second-highest ever, as refiners ramped up output to cash in on strong profits as fuel prices soar. November gas arrivals, including pipeline imports and liquefied natural gas (LNG) shipments, hit 6.55 million tonnes, breaking a previous record of 6.1 million tonnes last December, data from the General Administration of Customs showed. An aggressive government campaign to heat millions of homes and fuel industrial boilers with gas has pushed domestic LNG prices to record highs, with some industrial and commercial users facing shortages or unable to afford the high cost. For more visit reuters.com or click http://reut.rs/2k9XGXi

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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