Natural Gas News – March 25, 2019

Natural Gas News – March 25, 2019

Natural Gas Plant Liquid Production Continues At Record Pace

Daily Energy Insider reported: Petronas and PetroVietnam have signed a binding heads of agreement for the supply of additional natural gas from Malaysia’s Block PM3 CAA to Vietnam’s southern Ca Mau province, to meet the region’s growing gas demand. Vietnam has stepped up investment in gas and LNG supply and infrastructure, as domestic output is unable to keep up with consumption growth. S&P Global Platts Analytics estimates Vietnam’s gas demand at 26 million cu m/day in 2019, of which 22 million cu m/day will be consumed by the power sector. “Vietnam’s demand for power is rapidly increasing, and we assume Vietnam might start LNG imports in the early 2020s,” senior LNG analyst at Platts Analytics, Lambine Andre, said. For more on this story visit dailyenergyinsider.com or click https://bit.ly/2U9NXUS

Strong Oil & Gas Sectors Benefits Colorado With $1 Billion Revenue

World Oil reported: A study on the economic impact from Colorado’s oil and gas upstream and midstream subsectors found that it’s a critically important spoke in the wheel of the state’s diverse economy. As of 2017, the upstream and midstream subsectors alone were responsible for providing 89,000 direct and indirect jobs, $13.5 billion of the state’s gross domestic product, and $1 billion of public revenue that supports Colorado schools, social assistance programs, parks and water infrastructure. “This report demonstrates how a strong oil and natural gas sector benefits all Coloradans by ensuring that everyone has access to the great outdoors, good schools, and infrastructure to meet the needs of our growing population,” said Dan Haley, president and CEO of the Colorado Oil & Gas Association. “And in Colorado, where it is nearly impossible to raise taxes, a billion dollars from a single industry is a significant revenue stream that should be trumpeted.” According to the report, “oil and gas is responsible for at least seven distinct streams of public revenue For more on this story visit worldoil.com or click https://bit.ly/2CAAawI

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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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