Just when it looked like Sino-American relations were finally starting to improve, new satellite images last week showed troubling developments. China has been building artificial islands on reefs in the Spratly islands in the South China Sea at an alarming pace. Not that this would be alarming news per se, but the reefs have been,… Keep reading →
On May 12, The US Department of Energy (DOE) announced that it gave final approval for Cheniere Energy to export liquefied natural gas (LNG) from its $11.5 billion proposed plant in Corpus Christi, Texas. Cheniere will build two LNG trains at the site, with a total 13.5 million tons a year of capacity, a mega-LNG… Keep reading →
Widely divergent views were on display this morning with Continental Resources’ CEO Harold Hamm promoting US crude oil exports, EIA Chief Adam Sieminski discussing recent oil market lessons and Author Bill Powers playing the pessimist. A morning panel at the Financial Times’ Energy Strategies Summit held in New York City featured a discussion about the… Keep reading →
WASHINGTON – The Energy Department announced yesterday that it has issued a final authorization for Dominion Cove Point LNG, LP to export domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the United States. The Cove Point LNG Terminal in Calvert County, Maryland is authorized to… Keep reading →
The Western Canadian province of British Columbia (BC) is trying to get its liquefied natural gas (LNG) export plans together, they really are. However, problems are besetting the country’s once high-flying ambitions. As the price of crude oil, both global Benchmark Brent and NYMEX-traded West Texas Intermediate (WTI) plunged by over half since mid-June, BC’s… Keep reading →
Supply dynamics are changing liquefied natural gas (LNG) markets, especially in the Asia-Pacific region that accounts for two-thirds of global LNG demand. From an era of limited natural gas supply and record high prices exceeding $20 per million British thermal units (MMBtu) due to increased LNG demand from Japan, the world’s top LNG importer, in… Keep reading →
Major steel manufacturer US Steel announced layoffs in excess of 700 employees and said deteriorating market conditions were to blame. “’This action is a result of a decline in tubular market conditions, which is impacting demand for the plant’s products,’ U.S. Steel wrote in a letter addressed to USW President Leo Gerard.” [Pittsburgh Post-Gazette] Excelerate… Keep reading →
Surging US natural gas production is increasingly bumping up against infrastructure constraints, and while billions of dollars of investment in incremental pipeline capacity has been announced, numerous challenges remain. Environmental concerns, pipeline opposition, regulatory uncertainty and financial challenges represent short-term headwinds to an industry with an optimistic long-term outlook. These are some of the findings… Keep reading →
US natural gas will soon be exported to Asian markets in the form of LNG, and while this represents a major step change in global gas trade, US volumes alone will not solve the region’s gas demand challenges. This is one of the points IEA Executive Director Maria Van der Hoeven made today in remarks… Keep reading →
Opinion: Approving Energy Exports Would Unlock Huge Economic Growth
By Margo ThorningThe Department of Energy recently approved an application from Alaska LNG to export natural gas. But there’s a catch: these exports can only go to nations where the United States has a free-trade agreement in place. Never mind the fact that the top markets for LNG are India, China, and Japan, where we don’t have… Keep reading →