Optimism Reigns For U.S. LNG As Global Supply Fear Wanes
Dipka Bhambhani, Forbes, March 11, 2019
Against the public outcry over use of fossil fuels, and proposed climate change policies, including state-level interference aimed to reduce fossil fuel projects, the global natural gas sector is thriving, specifically liquefied natural gas. In a world thirsty for clean affordable energy sources, global demand for LNG is expected to double by 2035, and global investment in pending exports projects is about $366 billion. More than half of those export projects are U.S. LNG facilities, according to Bloomberg New Energy Finance.
Murkowski pushes for more oil, gas options offshore Alaska
S & P Global Platts, March 12, 2019
US Senator Lisa Murkowski, an Alaska Republican, said it is unclear if there is commercial interest in drilling in US Arctic waters, but said regulators should keep the option open for producers. “You don’t know until you have the opportunity to put the lease sales out there,” Murkowski told reporters at CERAWeek by IHS Markit in Houston Monday. “We need to set the table for participation.” Analysts and lobbyists claim there is limited interest in US offshore oil and gas production, outside the US Gulf of Mexico waters.
Alaska legislature approves resolution in favor of ANWR drilling
James Brooks, Anchorage Daily News, March 11, 2019
In its first piece of non-procedural legislation this year, the Alaska Legislature has approved a resolution calling upon the federal government to open oil and gas leasing in the coastal plain of the Arctic National Wildlife Refuge. The Alaska House of Representatives voted 36-3 in favor of the resolution Monday after amending a version approved in the Senate last week. After the House vote, the Senate voted 18-1 to confirm the House’s version.
Our Take: Reps Adam Wool, Fairbanks, Geran Tarr, Anchorage and Sara Hannan, Juneau , joined with Senator Elvi Gray-Jackson, Anchorage, to oppose the resolution. Rep Tarr is a co-chair of the House Resources committee.
From the Houston Chronicle, March 12, 2019
Pompeo questions European support for Russian pipeline Secretary of State Mike Pompeo questioned European support of Russia’s Nord Steam 2 pipeline which would transport natural gas from Russia to Germany. In a wide-ranging interview with the Chronicle, Pompeo said the pipeline project will weaken Europe’s energy security, even with the support of French and German governments. The former CIA director and congressman from Kansas said he will use his appearance at CERAWeek in Houston to promote American energy, especially technology that has allowed the U.S. to nearly gain its energy independence.
Why this matters: Producers in shale fields across Texas are eager to ship liquefied natural gas to Europe to reduce their dependence on Russia.
