Growth and potential of LNG, but controversy on location of AKLNG

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Murkowski Chairs LNG Hearing, Launches Strategic Energy Initiative
July 11, 2019

Murkowski opened the hearing by underscoring the growth and potential of U.S. natural gas and natural gas exports.
“Our production has soared to levels many never thought possible even a decade ago. This is, in turn, boosting our economy and our national security, while providing a long-term, low-cost, low-emission source of energy,” Murkowski said. “The consensus among experts is that LNG will continue to be a major driver of demand growth well into the next decade, from developed countries in Europe to fast-growing economies like India. We have an opportunity to lead in a very competitive global market, but the window is narrowing.”

Related: You can watch the full hearing, here.

Alaska communities debate proposed location of LNG project
Associated Press, July 11, 2019

Previous investigations have determined using Valdez would cause the least amount of environmental damage, largely because the pipeline would follow the existing Trans-Alaska Pipeline System route, city officials said.
“FERC appears to have taken (Alaska Gasline Development Corp.’s) unsupported assertions regarding the impacts of the Valdez Alternative at face value without conducting the additional research or analysis mandated by (the National Environmental Policy Act),” the city stated.
Nikiski remains the chosen site for a LNG plant, Alaska Gasline Development Corporation said.

Oil Market Report: Re-balancing slows down
iea, July 12, 2019

The main message of this Report is that in 1H19 oil supply has exceeded demand by 0.9 mb/d. Our latest data show a global surplus in 2Q19 of 0.5 mb/d versus previous expectations of a 0.5 mb/d deficit. This surplus adds to the huge stock builds seen in the second half of 2018 when oil production surged just as demand growth started to falter. Clearly, market tightness is not an issue for the time being and any re-balancing seems to have moved further into the future.

Murkowski finds EPA criticism of Pebble Mine ‘substantial’
Liz Ruskin, KTOO, July 11, 2019
“I have read the 404(q) submission and the issues that are raised by the EPA are substantial and, based on my read, well made,” she said Wednesday, referring to the agency’s review of Pebble’s proposal.
The EPA found the project “may have substantial and unacceptable adverse impacts” on the fish and fish habitat in the Bristol Bay watershed.

Murkowski foresees two possibilities: either the Corps will revise the Pebble impact statement in a way that satisfies the EPA’s concerns, or the EPA will exercise its right to veto the mine application.