Natural Gas News – September 10, 2018

Natural Gas News – September 10, 2018

Natural Gas Will Overtake Oil to Become North America’s Single Largest Energy Source This Year, Risk Management Firm Says

CNBC reported: Oil will be toppled as North America’s primary energy source this year, according to risk management firm DNV GL, with natural gas and electrification set to reshape the region’s energy future. The Norway-headquartered firm said Monday that overall energy demand in the U.S. and Canada would continue to decline over the coming months, as improving efficiencies in the transport sector dramatically reduce North America’s reliance on oil. “Energy efficiency is going to outpace the growth in GDP (gross domestic product), that’s the main reason why energy demand is peaking,” DNV GL’s group president and CEO Remi Eriksen told CNBC’s “Squawk Box Europe” on Monday. For more on this story visit cnbc.com or click https://cnb.cx/2wUJA3l

Lucid Energy Inks Natural Gas Processing Deal with Marathon Oil

Oil Voice reported: Dallas-based natural gas pipeline and processing company, Lucid Energy Group, has reportedly signed a long-term deal with Marathon Oil Corporation’s subsidiary, Marathon Oil Permian LLC. As per trusted sources, the deal entails Lucid Energy to handle gathering operations to all of Marathon operational acreage in Lea County as well as a portion of its acreage in Eddy County, New Mexico. If reports are to be believed, both Lea and Eddy County are parts of the Permian Basin, which is apparently the largest sedimentary basin stretching from West Texas into New Mexico and the most productive shale play in the country. As per an official report, the U.S. Department of Energy states that natural gas production in Permian is second largest in ranking after the Appalachia region in the eastern U.S. and has grown by 31.3% last year, if estimates are to be relied on. In addition to the long-term gathering agreement, Lucid plans to commission a cryogenic processing plant at its Red Hills natural gas processing facility in Lea county. For more on this story visit oilvoice.com or click https://bit.ly/2Mj7JFq

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