Natural Gas News – November 3, 2022
Natural Gas News – November 3, 2022
Enterprise ‘Convinced’ Export Customers Seeking US NGLs as LNG
US midstream operator Enterprise Products Partners considers NGLs exports by the US to be an increasingly attractive option for international customers, with high LNG prices forcing some to turn to cheaper sources of power generation. “I’m absolutely convinced that some of what we export is being burned, especially in Asia,”Enterprise co-CEO Jim Teague told investors during a third quarter earnings call Nov. 1. “I know one company that is [burning ethane] as you can land ethane cheaper than LNG at times.” Energy supply tightness in Europe and Asia, caused partly by Russia’s invasion of Ukraine and ensuing sanctions, has led to a boom in global LNG demand and pricing in 2022. Enterprise Products expects these higher LNG prices to lead to sustained higher demand for NGLs like ethane and LPG that can be used as… For more info go to https://bit.ly/3SQUcY1
US Exports Most Gas to EU Allies to Bolster Energy Security
The US has stepped up its export of natural gas to its European allies to support their energy security needs, with the majority going to France, Britain, Spain and the Netherlands. This is according to Brad Crabtree of the Office of Fossil Energy and Carbon Management at the US Department of Energy, who was speaking during a briefing on Monday. The exports are part of long-term contracts to support EU nations, he said. He said the US, as the world’s top producer and exporter of natural gas, plays a key role in helping European countries diversify their energy supplies, which would allow them to sustain their economies and maintain social and political stability. Crabtree said US LNG exports reached a high of 122 billion cubic meters per year in March. It is expected to reach 132 billion… For more info go to https://bit.ly/3NwLhtO
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