Natural Gas News – May 16, 2018

Natural Gas News – May 16, 2018

Australia Looks to Brownfield Projects as LNG Boom Peaks

Platts reported: Australia is unlikely see any new greenfield liquefied natural gas projects in coming years due to low global LNG prices and no discoveries of major gas fields, but the next wave of brownfield expansions could easily dwarf existing projects. The last of Australia’s initial wave of LNG export projects were set to start operations by end-2018, making it the world’s largest LNG exporter by the end of the decade, surpassing Qatar, in a feat set for the record books. A spike in Chinese gas demand due to fuel switching and growing domestic gas shortages in Australia have tightened the market earlier than expected, prompting calls for exploration and production companies to seek new capacity. However, it is unlikely that Australian E&P companies will see any new projects built from scratch, and they are focused instead on expansion of existing facilities, which include backfilling declining capacity as well as tapping into known reserves. “There’s no other accumulation out there in my view that supports a greenfield project,” Woodside Energy’s managing director and chief executive officer Peter Coleman said. For more on this story visit platts.com or click https://bit.ly/2rKgFMz

Oil, Natural Gas Industry Spends Billions to Reduce Greenhouse Gas Emissions, Report Says

Washington Examiner reported: The U.S. oil and natural gas industry invested $108 billion in technologies to reduce greenhouse gas emissions from 2000 to 2016, according to a study released Tuesday. The study, conducted by T2 Associates on behalf of the American Petroleum Institute, shows the balancing act sought by major oil and gas companies that are aiming to help combat climate change, even as they embrace the Trump administration’s “energy dominance” agenda supporting fossil fuels. For more on this story visit washingtonexaminer.com or click https://washex.am/2L049AR

Market Condition Report - Disclaimer
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.

Sign up for FUELSNews for daily market information and insights
Sign Me Up
Make a Call

We are happy to discuss your business challenges over the phone and answer any questions.

800.695.6626

Send Email

Ask your toughest questions. We'll get back to you with the best answer humanly possible.

Send Email

Find a Location

Need to contact a specfic office? View contact information for offices across the country.

View Locations

Get a Quote

Let us know what type of fuel or service you need and a team member will get a quote to you quickly.

Get a Quote