Natural Gas News – March 27, 2019
Natural Gas News – March 27, 2019
Commodity Traders Turn to LNG as Big Oil Profits Prove Elusive
Bloomberg reported: With margins narrowing in the crude oil business, some of the world’s biggest commodity trading houses are helping to reshape the energy industry with a drive into liquefied natural gas. Gunvor Group Ltd., Trafigura Group Pte. Ltd. and Vitol SA have moved a step beyond trading LNG, investing in ships and terminals handling the fuel. That’s accelerating the growth of the industry, moving more gas that traditionally has flowed through pipelines onto ocean-going tankers chilled to minus 162 degrees Celsius (minus 260 degrees Fahrenheit). Those houses in the 1970s broke away from Big Oil’s long-term contracts and created a market where cargoes change hands in the blink of an eye. Now they’re turning their attention to LNG, where spot trading is rapidly expanding. For more on this story visit bloomberg.com or click https://bloom.bg/2HYj9jt
Germany’s Uniper Feeds Wind Power-To-Methane Into Gas Grid
Reuters reported: German utility Uniper has started producing methane gas derived from wind power and feeding it into gas pipeline networks at its Falkenhagen site as the country seeks wider uses for renewable energy. The step, part of the European energy project called STORE&GO, demonstrates that it is feasible to produce entirely green energy with qualities identical to natural gas, Uniper said in a statement. The plant was set up six years ago, initially producing green hydrogen by using electrolysis, which involves running wind power through water to split it into oxygen and hydrogen in a process known as power-to-gas. In another step, methanation, CO2 from a bio-ethanol plant has been mixed with hydrogen to create a gas-like substance for the past 12 months. “Green methane can be used in many ways, for example as a fuel, to generate heat and electricity in power plants or at home, and as a raw material for the chemical industry,” the statement said. For more on this story visit reuters.com or click https://reut.rs/2CFkBUl
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