Dominion plans to start shipping LNG from Cove Point in March

Dominion Energy expects to start exporting liquefied natural gas (LNG) from its Cove Point terminal in Maryland in early March 2018, reports LNG World News. The site says Dominion introduced feed gas to the Cove Point liquefaction facility in December and that the facility is in the final stages of commissioning. Dominion’s facility, which will use natural gas from the Marcellus and Utica shale plays, will produce LNG for ST Cove Point, a joint venture of Japan’s Sumitomo Corp. and Tokyo Gas, and for India’s Gail Limited, a natural gas processing and distribution company. For more, read the full story.

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Arrival of Russian LNG in Boston reflects globalization of natural gas

Pointing to the globalization of natural gas markets, energy writer Agnia Grigas says in an op-ed piece in the New York Times that the United States should expect more of the sort of trades that resulted in a cargo of liquefied natural gas (LNG) most likely produced at a Russian plant arriving in Boston recently. “Once, natural gas was primarily a regional resource delivered by land-based pipelines,” she writes, “but in recent years, there has been a rapid growth in the shipping of natural gas in liquefied form across the globe.” Grigas also says the federal government and private sector “need to reassess the need for pipelines, storage facilities and LNG export terminals as the Midwest and Northeast become powerhouses for natural gas production.” For more, read the full story.

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PTT Global Chemical takes another step regarding Ohio ethane ‘cracker’ project

The Columbus Dispatch reports that PTT Global Chemical is taking another step toward determining whether it should move forward with construction of a proposed multibillion-dollar ethane “cracker” plant in eastern Ohio. According to the newspaper, PTT said it has struck an agreement with a subsidiary of Daelim Industrial, a Korean construction and chemical company, to conduct a feasibility study and secure funding sources for the proposed plant in Belmont County along the Ohio River. PTT said it has received interest from multiple international investors and expects to make a final decision on the project in 2018. For more, read the full story. Click here for more ShaleOhio posts about the PTT project.
 

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Shale Crescent USA to make trip to Japan

A Shale Crescent USA team is ready to leave for a business trip to Japan, according to an op-ed piece in the Parkersburg News and Sentinel by Greg Kozera of the Mid-Ohio Valley based economic development initiative. “We believe that this is a unique opportunity for our region,” Kozera writes, noting Japan will be a customer for liquefied natural gas from the new export terminal at Cove Point, Maryland that will use natural gas from the Utica and Marcellus shale plays. He also says the Mid-Ohio Valley has the natural gas liquids such as propane, butane and ethane that are building blocks for petrochemicals and are needed by Japan. For more, read the full story.

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U.S. oil production expected to reach all-time high

Surging shale production is expected to push U.S. oil output to more than 10 million barrels per day this year, “toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago,” Reuters reports. The news service says this new record likely will not last long, with U.S. government forecasts projecting the nation's oil production will climb to 11 million barrels a day by late 2019 to rival Russia, the world's top producer. Soaring U.S. output will cut the nation's oil imports by a fifth over a decade, provide high-paying jobs in rural communities and lower consumer prices for gasoline by 37% from a 2008 peak, according to Reuters. For more, read the full story.

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Price of oil hits $70 a barrel, up nearly 50% since June

The New York Times reports that prices for Brent crude oil, the international benchmark, have risen nearly 50% since June 2018 and briefly passed $70 a barrel in Asian trading on January 16. The newspaper says the price hike comes during a period of political tension in Iran, a cold winter in the United States, a year of oil production cuts, a decline in oil stockpiles and “a buoyant global economy that has bolstered demand, meaning prices could go higher still.” For more, read the full story.

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West Virginia official optimistic about construction of energy projects by Chinese company

West Virginia Commerce Secretary Woody Thrasher says construction could begin this year in connection with a Chinese company’s $83.7 billion investment agreement to help develop the state’s energy and petrochemical industries, reports WV News. “In the three visits we’ve had (to China), there’s been a great sense of urgency (on the part of the Chinese),” Thrasher recently told state legislators when asked what activity may be seen in the next 12 to 24 months. In November 2017, Thrasher signed a memorandum of understanding with China Energy Investment Corp., which wants to take advantage of West Virginia’s supplies of Marcellus and Utica shale gas. For more, read the full story.

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Moody’s says oil and natural gas to continue recovery in 2018

Oil & Gas Journal reports that a new forecast by Moody’s Investors Service predicts the oil and natural gas industry will continue its slow recovery in 2018 “as upstream companies increase production, helping the midstream and services businesses as well.” Moody’s says excess supply will continue to dampen oil prices in the coming year, while natural gas prices will benefit from higher demand although price gains will still be limited. For more, read the full story.

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Proposed Mediterranean pipeline would move natural gas to Europe

A potential undersea pipeline carrying natural gas from large deposits in the eastern Mediterranean Sea near Cypress to Europe is "very realistic" and could help secure the continent's energy future, reports the Associated Press. Citing comments by Israeli Energy Yuval Steinitz, the news service says a study on the EastMed Pipeline project shows the pipeline is feasible even though it presents technical challenges due to the depths involved. Steinitz said the estimated $7.36 billion pipeline could take six to seven years to build. For more, read the full story.

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Dominion does final testing before opening LNG export plant

Dominion Energy has introduced feed gas for testing the company’s new $4 billion liquefied natural gas (LNG) export plant in Cove Point, Maryland, reports Marcellus Drilling News. The testing is the final step before the plant goes online later this month. LNG from the Marcellus and Utica shale plays will be shipped from Cove Point to Japan and India, according to the news site. Click here to read more.

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