Natural Gas News – July 10, 2018

Natural Gas News – July 10, 2018

Natural Gas Drillers are Fighting for Their Lives

Bloomberg reported: The natural gas industry is on a mission to prove it can keep up with the green energy industry, whose price reductions are starting to become a competitive threat to fossil fuels. Gas and oil producers have slashed overheads by a third since 2014 and are finding deeper reductions harder to come by, according to energy consultants Wood Mackenzie. That’s spurring them to rewrite supply contracts, build mobile liquefied natural gas terminals and take more prosaic steps like fixing leaky pipes. “This is about getting affordable energy out,” said Jens Okland, executive vice president of marketing, midstream and processing at Equinor ASA, Norway’s biggest energy company. “A lot of these LNG projects are huge. You need to make them cheaper, quite simply.” Keeping gas affordable is a crucial ingredient of the world’s effort to shift toward less-polluting forms of energy, since it’s gas-fired power generators that can start and stop quickly. For more on this story visit bloomberg.com or click https://bloom.bg/2zwz59U

U.S. Approves Startup of N.Y. Millennium Valley Lateral Natural Gas Pipe

Reuters reported: U.S. federal energy regulators on Monday approved Millennium Pipeline’s request to start service on the Valley lateral natural gas pipeline project in New York. The 0.13 billion-cubicfeet- per-day (bcfd) pipeline will connect Competitive Power Ventures’ (CPV) 680-megawatt Valley Energy Center, which entered service in February using diesel as its fuel. CPV has said it will switch to gas once it is available. Diesel was supposed to be a backup fuel. One billion cubic feet is enough gas to fuel about 5 million U.S. homes for a day. The plant is one of several being built in New York that will help replace generation that will no longer come from Entergy Inc’s 2,051-megawatt Indian Point facility once the two reactors there are retired in 2020 and 2021. One megawatt can power about 1,000 U.S. homes. For more on this story visit reuters.com or click https://reut.rs/2uffgzd

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