EIA marks 2019 as the year with the lowest natural gas prices for the past three years, as although monthly average natural gas prices at most key regional trading hubs in 2019 reached their highest levels in February, and they were relatively low and stable from April through December.
According to Al Jazeera, the European market hangs in the balance as the US take aim at Russian-Turkish energy alliance. Greece is now proving to be a test case of the power of liquefied natural gas (LNG) to get market share, while the US is taking notice by the boosting US LNG sales to Europe.
On Wednesday, 18 December 2019, the US Environmental Protection Agency (EPA) amended its diesel fuel regulations aiming to allow fuel suppliers distribute distillate diesel fuel that complies with the Sulphur standard that applies internationally for ships instead of the fuel standards that otherwise apply to distillate diesel fuel in the US.
On 6 January, Sempra LNG along with Aramco Services Company officially announced their collaboration, as they inked an interim project participation (IPPA) for the Port Arthur LNG export project which is under development in Jefferson County, Texas.
The Energy Information Administration (EIA) reported that the US exports concerning LNG presented an increase, the week from 12 to 18 December. 17 vessels departed the US export facilities carrying an overall cargo of 59 Bcf, during the week under review, in comparison to 14 vessels with a combined LNG-carrying capacity of 51 bcf exported the week before.
Compliance is a major concern in light of the new regulations concerning pollution from shipping; whatsoever, no central policing agency as well as several countries have not signed up to them yet. Reuters reports that refiners and shipping companies are expected to spend billions of dollars in the following years in order to ensure fuel and engine compliance. Yet, as enforcement of MARPOL Annex VI, set by the UN rests with individual countries and flag states, means that for some routes and regions, compliance may be inconsistent.
The Federal Energy Regulatory Commission (FERC) has issued an order authorizing the siting, construction and operation of the proposed Rio Grande LNG export facility in Brownsville, Texas and the associated Rio Bravo Pipeline.
In November’s Short-Term Energy Outlook (STEO), EIA increases its US crude oil production forecast for year 2019 by 30,000 barrels per day, in comparison to October’s STEO; Similarly, on the contrary to October’s forecasts, EIA rose its 2020 crude oil production forecast by 119,000 bpd.
The IMO has announced that from January 1 2020, ships will use fuels containing up to 0.5% sulphur, in comparison to the existent measure of 3.5%, unless they are equipped with exhaust gas cleaning systems. In light of the upcoming 2020 Sulphur cap, the shipping industry along with the oil and gas sector are preparing for the future changes; Thus, Reuters presents a summary of how the top global refiners are getting ready for the fuel switch.
The Energy Information Administration (EIA) issued its Natural Gas Annual report for 2018, addressing that the US set a new record in natural gas production, consumption and exports that year. US natural gas increase was seen mostly in the Appalachian, Permian, and Haynesville regions.
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