Shale Gas News – March 16, 2019

Bill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM and Sundays on YesFM, talked about LNG demand, new compressor stations, PTT cracker plant and much more last week.

The Shale Gas News has grown again; welcome Gem 104 as our FOURTH station! Gem 104 helps to solidify the Shale Gas News coverage in an important Marcellus region, PA’s northern tier. The Shale Gas News is now broadcasting in Bradford, Lackawanna, Lancaster, Lebanon, Luzerne, Lycoming, Pike, Sullivan, Susquehanna, Tioga and Wayne Counties, as well as in greater central PA. The Shale Gas News is aired on Saturday or Sunday depending on the station.

Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week we replayed a speech from Alex Epstein; Alex is an energy expert and the director of the Center for Industrial Progress (CIP).

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the March 16th show (click above), we covered the following new territory (see news excerpts below):

  • Industry braces for ‘next wave’ of natural gas. A surge of natural gas export projects coming online around the world is rippling through global gas markets and upending the industry, with no end to the changes in sight.
  • Growing role of oil majors in shale to blunt impact of price volatility: IEA. Major oil companies are accounting for a growing percentage of US shale output, a trend the International Energy Agency believes could blunt the impact of price volatility on US supply. US shale oil growth has almost entirely been driven by smaller, independent producers. However, the majors are less responsive to prices and have longer-term strategic plans and balance sheets that can allow them to continue to invest despite volatile prices, said Toril Bosoni, a senior oil market analyst with IEA, during a news conference Monday at CERAWeek by IHS Markit.
  • McNamee says ‘time is money’ for projects. Bernard McNamee, a Republican member of the Federal Energy Regulatory Commission, said yesterday that climate change is one of many factors that need to be considered in the review of pending energy projects.
  • Shipping Companies Banking on Gas Carriers as LNG Demand Grows.  A raft of U.S. natural gas projects coming online in the next few years are likely to boost the global fleet of seagoing LNG tankers by as much as a third, as shipping operators jarred by sharp swings in oil markets pounce on a big new stream of business.  At about $175 million each, vessels outfitted for liquefied natural gas can cost several times more than other ship types. But top shipowners say they could be the vehicle for the most profitable trade in shipping since the 1960s when crude oil tankers powered global maritime fortunes.
  • FERC Approves Empire Pipe Request for 2 New Compressors in PA, NY. Well well well–this news is sure to ruin the day of irrational fossil fuel haters in New York and Pennsylvania. The Federal Energy Regulatory Commission (FERC) last week approved a request by National Fuel Gas Company subsidiary Empire Pipeline to build two new compressor stations along the Empire Pipeline–one in Tioga County, PA, the other in Ontario County, NY, to flow an extra 205 million cubic feet per day (MMcf/d) of yummy fracked PA gas into the Empire State (don’t tell Cuomo).
  • Tree Clearing Begins at PTT Cracker Site in Belmont County, OH. As we keep pointing out, PTT Global Chemical, the company that says they want to build a $6 billion ethane cracker plant complex in Belmont County, OH, keeps hinting that a “final investment decision” (FID) will come soon. Any day now. Just around the corner. They’ve been saying it for nearly two years.  On the plus side PTT paid $13.8 million for a 168-acre site back in 2017 on which to build it.
  • Where Will New Fortress Energy’s Marcellus LNG Port be Located? We’ve been tracking the story of a coming $800 million LNG export plant that will be built in rural northeastern Pennsylvania. Two days ago we shared the news that some of the Marcellus molecules from the plant will go to Puerto Rico to power electric plants. But between northeast PA and Puerto Rico, somewhere, somehow the LNG must get loaded onto a ship. Where will that happen? We think we know.

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