The US has exceeded Australia and Qatar to become the world’s largest LNG exporter.
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.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 …
Oil exports surprised me less than NG - peaker GTG’s and direct heat will remain a big deal even with EV’s etc …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.
I was surprised as well. Went from negative profitability on natural gas production from fracking to $$$.Oil exports surprised me less than NG - peaker GTG’s and direct heat will remain a big deal even with EV’s etc …
Now Mexico is flipping the other way …
Consumption charges are usually under 40% of my bill. Distribution, connection fees, other fees, and taxes are far higher.This is why my nat gas bill is double last year.
There are a few Russian pipelines feeding Europe. One via Ukraine, one via Belarus and Poland, and then Nordstream 1/2 which terminate in Germany.I was surprised as well. Went from negative profitability on natural gas production from fracking to $$$.
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.
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.
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.
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.The US has exceeded Australia and Qatar to become the world’s largest LNG exporter.
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Yes, also big oil company BP is to exit Rosneft shareholding. Russian will suffer greatly with this war.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(?)