QatarGas strikes Chinese LNG deal
Upstream Online, September 10, 2018
Qatar gas said on Monday it had agreed on a 22-year deal with PetroChina International, a unit of PetroChina, to supply China with about 3.4 million tons of liquefied natural gas annually, as the nation stepped up efforts to combat air pollution. The Qatari state-owned company will supply LNG from the Qatar gas 2 project – a venture between Qatar Petroleum, ExxonMobil and Total – to receiving terminals across China, with the first cargo to be delivered this month.
REPSOL SIGNS UP FOR VENTURE GLOBAL US LNG
Natural Gas News, September 7, 2018
US Venture Global LNG has contracted to sell Spanish energy company Repsol 1mn metric tons/yr of LNG from its Calcasieu Pass LNG export facility in Louisiana, it said September 7. Repsol will take the LNG free on board for 20 years, starting from the commercial operation date of the 10mn mt/yr Calcasieu Pass LNG export facility, expected in 2022 assuming Venture Global takes final investment decision early next year as planned, and the other customary conditions precedent have been met.
PUNISHING BOLIVIAN TAXES DETER GAS EXPLORATION
Natural Gas News, September 10, 2018
Exploration activities to discover more natural gas in Bolivia have been deterred mainly by one thing: a high flat tax rate at the well-head. “I think the main barrier to Bolivia not developing more exploration activities is its high flat tax rate to do deep exploration in unconventional areas,” Alvaro Rios Roca, Gas Energy Latin America’s managing partner told NGW in a September 9 interview. Bolivia, the small South American country with estimated proved natural gas reserves of 10.7 trillion ft³ at December 31, 2017, has struggled to boost proved reserves in the last four years, according to a recent reserve report by Canada’s Sproule International.
Our Take: A good reminder for Alaska’s elected officials, and those seeking office. If you tax something, you get less of it.
Drilling and suburbia collide in Colorado fracking fight
Amy Harder, Axios, September 18, 2018
A fight underway here in Colorado over a ballot initiative curtailing oil and gas drilling is NIMBYism at its most stark. Why it matters: NIMBYism — “not in my backyard” opposition — is as old as time and often has a negative reputation. But in the case of Colorado, it shouldn’t. It’s the surprisingly simple result of a growing population and oil drilling encroaching on each other. It’s a national symbol of both the economic benefits of drilling and its understandable drawbacks to nearby neighborhoods. Driving the news: Coloradans are set to vote on a ballot initiative Election Day that would ban drilling within 2,500 feet — nearly a half-mile — from buildings and some green spaces. That’s up from a current limit of 500 feet. Internal polling conducted on behalf of the state’s oil industry and not previously disclosed shows the initiative is likely to pass with around 60% support.
Our Take: Jobs Matter. So does $1billion in revenue to the state of Colorado. What are 60% of the people in CO thinking?
Under Trump, the jobs boom has reached blue-collar workers. Will it last?
Heather Long, Andrew Van Dam, The Washington Post, September 9, 2018
Blue-collar jobs are growing at their fastest rate in more than 30 years, helping fuel a hiring boom in many small towns and rural areas that are strong supporters of President Donald Trump ahead of November’s mid-term elections. Jobs in goods-producing industries – mining, construction, and manufacturing – grew 3.3 percent in the year preceding July, the best rate since 1984, according to a Washington Post analysis. Blue collar jobs, long a small and shrinking part of the U.S. economy, are now growing at a faster clip than those in America’s much larger service economy. Many factors collided to produce the blue-collar boom. Some are tied to short-term boom-and-bust cycles, but others may endure.
Our Take: Jobs matter part 2. When asked to score President Trump’s performance on a scale of 1 to 10, gubernatorial candidate Mike Dunleavy gave him an 8, Bill Walker a 5 and Mark Begich a -4. How can you be a champion for working people if you don’t recognize the importance of jobs?