US is top LNG exporter

[Snagglefoot]

The US has exceeded Australia and Qatar to become the world’s largest LNG exporter.

 

[BMWTurboDzl]

Yikes. LNG prices must be really high.

 

[Bjornviken]

Thats good news, Eu is buying alot right now. Hope EU will wake up and close all natural gas pipe line coming from Russia.

 

[Rand]

Some prices in europe/uk were spiking to 10-20x the prices I paid last year here in Ohio.

So it makes sense to ship it there where its 10x higher.. as long as our prices dont skyrocket.

Last year I signed up for 2.99/1000 cu ft.
this year the standard base price was 5.99. but I switched back to the aggregate buying unit of my city and got 3.42

The price it was trading for in europe was 90-180 per MWH which is around 3400 cu ft.

Doing the math that roughly is 10-20x the 2.99 rate I paid last year.

Its good news for the oil and gas industry.. I am fairly close to the Massive fracking zone near Carrollton Ohio.

Disclaimer: this was typed before finishing first cup of coffee.



Edit: fixed forgetting the current euro= 1.15 usd in the price conversion.

 

[Hermann]

This is why my nat gas bill is double last year.

 

[4WD]

This had to be “approved” - but why ? Let’s get that dirty stuff out of here like Australia ?
That was a reversal of very old policy that I never expected to see …

 

[Rand]

This had to be “approved” - but why ? Let’s get that dirty stuff out of here like Australia ?
That was a reversal of very old policy that I never expected to see …

If I was to guess I'd say someone wanted to poke Russia and their fossil fuel exporting economy in the eye.. more than they wanted to shut down the domestic oil and gas industry.

 

[4WD]

If I was to guess I'd say someone wanted to poke Russia and their fossil fuel exporting economy in the eye.. more than they wanted to shut down the domestic oil and gas industry.

Oil exports surprised me less than NG - peaker GTG’s and direct heat will remain a big deal even with EV’s etc …
Now Mexico is flipping the other way …

 

[Rand]

Oil exports surprised me less than NG - peaker GTG’s and direct heat will remain a big deal even with EV’s etc …
Now Mexico is flipping the other way …

I was surprised as well. Went from negative profitability on natural gas production from fracking to $$$.
but where there is $$$$ there is a way. If natural gas is selling for 20x the price somewhere else it would make financial sense to try to get some of it there.

Esp with Putin playing games with their pipeline.. and the other pipeline shenanigans.
Including the current Ukraine/Russia situation and the fact that the pipeline goes from Russia through Ukraine to EU.

This is why my nat gas bill is double last year.

Consumption charges are usually under 40% of my bill. Distribution, connection fees, other fees, and taxes are far higher.

 

[BMWTurboDzl]

I was surprised as well. Went from negative profitability on natural gas production from fracking to $$$.
but where there is $$$$ there is a way. If natural gas is selling for 20x the price somewhere else it would make financial sense to try to get some of it there.

Esp with Putin playing games with their pipeline.. and the other pipeline shenanigans.
Including the current Ukraine/Russia situation and the fact that the pipeline goes from Russia through Ukraine to EU.


Consumption charges are usually under 40% of my bill. Distribution, connection fees, other fees, and taxes are far higher.

There are a few Russian pipelines feeding Europe. One via Ukraine, one via Belarus and Poland, and then Nordstream 1/2 which terminate in Germany.

 

[SubLGT]

I wonder if natural gas is still being wasted in the USA via flaring or venting?

Natural gas venting and flaring in North Dakota and Texas increased in 2019 - U.S. Energy Information Administration (EIA)

www.eia.gov

The U.S. Energy Information Administration’s (EIA) 2020 Natural Gas Annual reports that the volume of U.S. natural gas that was vented and flared in 2019 was 1.48 billion cubic feet per day (Bcf/d), a record high annual average. The percentage of U.S. natural gas that was vented and flared in 2019 increased to 1.3% of gross withdrawals, the highest share recorded in EIA data. As crude oil production has outpaced the construction of necessary infrastructure to transport the natural gas extracted during oil production, or associated natural gas, it has been increasingly vented and flared.

Natural gas flaring is a controlled burn of natural gas at the wellhead using a dedicated flare that ignites the methane component in natural gas. Venting is the direct release of natural gas into the atmosphere, which is often restricted by state regulators. Regulators prefer flaring when possible because the methane released as a result of venting is a more potent greenhouse gas than the carbon dioxide released as result of flaring.

Profit And Loss From Flaring Of Natural Gas In Permian Basin Wells Of New Mexico.

Flaring is a bit like burning money that eats into the oil sale profits. But still, a profit means good business – usually.

www.forbes.com

Flaring refers to natural gas that has no pipeline so the gas is released to the atmosphere and burned because the operator can make a better profit by continuing to sell the oil that comes up the well along with the gas. Now flaring is actually wasting gas, almost like burning money, and that eats a little into the oil sale profits. But still, a profit is a profit, and a profit means good business – usually.

 

[Trav]

The US has exceeded Australia and Qatar to become the world’s largest LNG exporter.



View attachment 83952

Let them lie in the bed they made, we should not export anything until the price of LNG, gasoline and home heating oil are low here.
They destroyed their own energy sector with their wokie wokie agenda now let them figure it out. Americans should not be taking it in the arse for someone else's stupidity.

 

[Job]

The exporting of LNG started in 2016 and has been rapidly increasing for six years. According to the words in the article. I don’t think the government of America is a private business selling gas? America, what a country. Love this country.

 

[odie]

More $ in exports .

 

[PandaBear]

Without trying to get into politics, I think the long term energy security of most Western Europe will lies in going back to nuclear and importing NG from off shores. China may buy the gas that used to ship to Western Europe and then more from the US (because they also won't trust just one source). NG won't be cheap for a long time and fracking will start back up in the US, and US will find ways to compensate for the increase in electricity cost in addition to heating cost with NG.

So most likely we need to fast track nuclear all over the world, maybe startup some coal plants that have been mothballed, and maybe accelerate EV rollout with large capacity and variable charging cost based on whether wind and solar are generating.

I don't know if US drivers will like trading in their crewcabs and SUVs for sedans, but that might happen very soon, or they will work from home to save gas.

 

[Bjornviken]

Energy prices will go up in Eu by buying from America. But its worth it!
Less money to Russian war machine. Better for my country if Russia wants round 3 with us

 

[bullwinkle]

LNG shipments are only going to increase now, Russia is going to be cut off from the world financial markets starting tomorrow. I would guess ALL their western NG pipelines will be shut down, and I believe three of the biggest ones run through Ukraine(?)

 

[Danno]

Is fracking banned in Western Europe?
They must have reserves?

 

[Bjornviken]

LNG shipments are only going to increase now, Russia is going to be cut off from the world financial markets starting tomorrow. I would guess ALL their western NG pipelines will be shut down, and I believe three of the biggest ones run through Ukraine(?)

Yes, also big oil company BP is to exit Rosneft shareholding. Russian will suffer greatly with this war.