Tag: natural gas

In the most recent Energy Transition Outlook, DNV GL presents its timeline of the next 30 years of the energy transition, which shows many astonishing milestones. Namely, the one of the key takeaways of the timeline is the peak of energy supply and demand, but there are other significant milestones as well. According to the timeline oil will peak at 2022, while 4 years later transport energy demand will peak.

In light of DNV GL's Energy Transition Outlook 2019 launch, this infographic describes 10 measures that aim to help close the emissions gap to well below 2°C. However, DNV GL added that policies must also be developed in order to mitigate at least three fronts at the same time: higher energy efficiency, more renewables, and industrial-scale CCS.

DNV GL issued its Energy Transition Outlook for 2019 examining the energy future through to 2050. The forecast says the technology available is able to deliver the Paris Agreement climate goals, but only with strongly enforced policies aimed to enhance Nationally Determined Contributions. 

In its July 2019 Short-Term Energy Outlook, the US Energy Information Administration expects Henry Hub natural gas spot prices for June, July, and August this year to average $2.37 per million British thermal units. If this happens, this price would be the lowest summer average Henry Hub natural gas price since 1998.

According to EIA, Argentina’s domestic natural gas production has been steadily increasing in the past three years, due to the increased production coming from the Neuquén Basin’s Vaca Muerta shale and tight gas play. Its production surpassed the 1 billion cubic feet per day (Bcf/d) in December 2018.

BP Ventures announced an investment of $30 million in California-based start-up Calysta, Inc., that will use BP’s natural gas to produce protein for fish, livestock and pet feeds. This investment aligns with BP’s strategy of creating new markets in which gas can play a material role in delivering a more sustainable future.

The American Petroleum Institute published its latest Monthly Statistical Report showing that US crude oil production sustained a record-tying 12.1 million barrels per day (mb/d) in April. Moreover, total petroleum demand was the highest for the month since 2007 at 20.2 million barrels per day.

According to 'Research on Natural Gas Import in China, 2019-2023' the developing Chinese economy and its stricter environmental protection policies lead the development of natural gas consumption in China. The natural gas consumption was boosted when the Chinese government implemented additional restrictions on atmospheric pollution and replacement of coal with natural gas in specific areas. 

US net natural gas exports in February 2019 totaled 4.6 billion cubic feet per day (Bcf/d), marking 13 consecutive months in which US natural gas exports exceeded imports, according to the US Energy Information Administration (EIA).

Australia's New South Wales (NSW) Government announced it has awarded Development Consent to AIE's Port Kembla Gas Terminal. The decision by the NSW Minister for Planning comes after a thorough review of the Project’s Environmental Impact Statement (EIS).