Fracturing oil and gas from tight rock formations promises secure energy supplies for generations, but only if industry and regulators can convince voters it can be done safely without poisoning water supplies or adding to global warming. Like other forms of petroleum production, and innovative technologies such as liquefied natural gas and nuclear, shale gas [...]
PetroChina plans to buy a 20% stake in a Shell liquid natural gas property in Canada for more than $1 billion. Word on the street is that PetroChina, China’s biggest oil-and-gas producer and distributor, plans to pay slightly more than $1 billion for a 20% stake in a Shell shale gas property in Canada. For [...]
The U.S. Energy Department cut its estimate for natural gas reserves in the Marcellus shale formation by 66 percent, citing improved data on drilling and production. About 141 trillion cubic feet of gas can be recovered from the Marcellus shale using current technology, down from the previous estimate of 410 trillion, the department said today [...]
Fungibility is underrated. Take a bunch of hydrogen and carbon atoms, link them together in certain ways, and they can become among the most useful and concentrated sources of energy on earth. But markets can be awfully fickle about what they are willing to pay for the same unit of energy. Right now in the [...]
Exporting large amounts of US natural gas will significantly increase energy prices for domestic consumers, government analysts said in a report that will fan debate over the best use of bountiful supplies of the fuel. The study by the US Energy Information Administration was issued as eight companies are seeking permission to liquefy and export [...]
No issue in Latin America this year may be more fraught with volatility than energy. The Mayan calendar prophesied the end of the world this December. But for Latin America’s energy scene, the year is shaping up to be anything but a march toward the end of time. There are several themes to consider as 2012 unfolds. [...]
As recently as 2001, the production of gas naturally occurring deep inside shale rock provided less than two percent of total U.S. natural gas production. Today, it is approaching 30 percent. As late as 2007, it was commonly assumed that the United States would be importing large amounts of liquefied natural gas from the Middle [...]
In a turnaround that would have been unthinkable a few years ago, the US is predicted to become the world’s top oil and gas producer by 2020, passing Russia and Saudi Arabia. The growth in extraction from shale has made the US the world’s largest producer of natural gas. It is now poised to enter [...]
Cheniere Energy will sell all the capacity at its proposed Sabine Pass LNG plant by April. “We will be sold out by April – all four trains. We have a very large number of parties that we are negotiating with,” Cheniere’s Charif Souki told Reuters. Houston-based Cheniere plans to begin construction on the $5 billion [...]
Negotiations over royalties paid by the consortium operating the giant Camisea natural gas field and the Peruvian government could be delayed. President Ollanta Humala’s government says it seeks to correct market distortions through the negotiations so that royalties paid on exported fuel are always higher than those paid on fuel used domestically. Talks between the [...]
