“Dominion doesn’t respect the wishes of the citizens of Myersville, and the Federal Energy Regulatory Commission is failing to protect the public,” said Steve Bruns, a Frederick resident who is running for a seat on the county commission. With signs reading “FERC: Don’t Bully Frederick Co.” and “We Demand Justice for Myersville,” the four protesters-including a county commission candidate, an asthma sufferer, a mother, and a Frederick resident who grew up playing baseball in Cove Point Park-blocked the courthouse entrance and demanded a full and fair federal environmental impact review of Dominion’s controversial $3.8 billion plan.įrom Cumberland to Frederick, protesters are drawing attention to the interconnected, statewide impacts that could be triggered by the Cove Point export facility, including the invasion of dangerous gas fracking wells and related gas pipeline and compressor infrastructure. residents facing pollution from Dominion gas compressor linked to Cove PointįREDERICK-One week following a peaceful sit-in that led to four arrests in Cumberland, four central Maryland residents were arrested today outside the Frederick County Courthouse protesting Virginia-based Dominion Resources’ plan to build a liquefied natural gas export facility at Cove Point in southern Maryland. Protesters demand justice for Frederick Co. Our surplus will be great and help keep gas prices low.Peaceful sit-in by central Maryland mothers, county commission candidate and Frederick resident follows Cumberland protest last week gas production is expected to outpace our demand by almost a 2-1 ratio in the years ahead. Obviously helped out by the mighty Marcellus shale play (breakeven of $2.15), total U.S. Some think a 10-12 Bcf/d output surge in the Permian from 2020 to 2025 could keep Henry Hub prices in the $2.75 range. In fact, gas flows so easily in the Permian that BNEF reports players there have a breakeven gas price of NEGATIVE $2.36 (read that again and check page 52). The center of this, of course, is the Permian basin in West Texas that will be with reach of our mushrooming Gulf Coast export terminals. Moreover, we are going to continually produce a load of associated gas that comes along "free" when crude oil gets produced. LNG is a safe bet: global gas demand is expected to rise 50% over the next two decades and LNG is the fastest growing way to trade it. Supply diversification remains the long-term goal for the rapidly expanding LNG importing pool. For example, Poland, a Russian gas client since 1944, has said it will not renew its contract in 2022. " Although not having huge incremental demand like some of the others, Europe is more attractive for us than might initially appear: countries there have expiring contracts with Russia's Gazprom that are putting market share in play. eyes opportunities to sell LNG to Saudi Arabia. LNG has been rising over time, with obvious potential in Europe, South Korea, Japan, India, and China. And remember: the lower our prices become, the more attractive international buyers find them. That might end up being a bargain by then. Headed by LNG legend Charif Souki, Tellurian wants to would sell Japanese customers LNG at a fixed $8 per MMBtu beginning in 2023, compared to the $9 seen for the country's recent pricing. Magnolia's pricing is unique too, offering LNG at Magnolia typically has offered LNG at 113% of Henry Hub prices, compared with 115% offered by some competitors. An FID on Magnolia could come by the end of this year. LNG industry stands ready to adapt: the $3.5 billion Magnolia LNG export project has created a sample portfolio in which a customer could retain LNG supplies 40% under long-term contract, 40% mid-term, and 20% spot purchases. Since 2008, average contract lengths have fallen from 18 years to about 7 years. But, buyers also realize that longer-term, 20-year deals are needed too in order to help export projects secure financing. Spot purchases were nearly 30% in LNG trade in 2017, up from less than 20% in 2013. LNG buyers seek more flexible, smaller volumes, and shorter-term contracts that have been the exception in the industry.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |