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Shale Gas News – February 27, 2016

shale gas news - desRosiers_headshotBill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

 

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM talked about Canada’s LNG exports, impact fees, shifting global power and much more last week.

Every Saturday, Kevin Lynn of Linde Corporation and I co-host a morning radio show to discuss all things natural gas. This week we had Jude Clemente as a guest.

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CanadaLNG

Canaport facility, New Brunswick, Canada

The Shale Gas News is typically broadcast live and our February 27th show (click above), we covered the following new territory (see news excerpts below):

  • Goldman Sachs: The Energy Collapse Isn’t Even Close to the Subprime Crisis. According to the team at Goldman, led by Charles Himmelberg, head of global credit strategy, there are four key reasons that similarities between the 2007 housing bust and the recent collapse in oil prices don’t go very far.
  • Canada’s Liquefied Natural Gas Exports: Challenges and Opportunities. Since 2005, Canada’s proven natural gas reserves have increased 25% to 75 Tcf. Canada has a very slow growing population rate, which will slow economic growth and incremental energy needs. So, even though natural gas is about 30% of Canada’s total energy supply, the country’s gas export capacity will expand in the years ahead.
  • Comptroller: Oil bust does not have sky falling in Texas. “Is the sky falling in Texas? West asked Hegar after the former senator had assured worried members of the Senate Finance Committee that despite plunging oil prices — from more than $100 a barrel in mid-2014 to about $32 on Jan. 26 when the hearing was held — Texas is weathering the financial storm.
  • Gazprom Threatens To Cut Off Gas Supply to Kyrgyzstan. When Russian gas giant Gazprom bought up Kyrgyzstan’s natural gas distribution system in 2014, some grumbled about loss of sovereignty, while others were relieved the purchase meant gas cut-offs could become a thing of the past.
  • W.Va. lawmakers OK bill to drop coal, natural gas surtax. The House voted 96-3 Thursday to approve dropping the additional severance tax of 56 cents per ton of coal and 4.7 cents per thousand cubic feet of natural gas. The Senate previously passed the bill, and still would need to vote on House amendments.
  • Impact fee poised to bring in $38 million less than last year. Pennsylvania’s shale gas impact fee will likely bring in $38 million less this year than last year because of stubbornly low natural gas prices and fewer new wells to pay the levy, according to projections released Wednesday by the state Independent Fiscal Office.
  • The Trickle of U.S. Oil Exports Is Already Shifting Global Power. For the Saudis and their OPEC cohorts, who collectively control 40 percent of the globe’s oil supply, the specter of U.S. crude landing at European and Asian refineries further weakens their grip on world petroleum prices at a time they are already suffering from lower prices and stiffened competition.

The Shale Gas News sponsored by Linde Corporation

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