MDN’s Energy Stories of Interest: Wed, May 21, 2025 [FREE ACCESS]

MARCELLUS/UTICA REGION: Expand Energy donates $20,000 to Wetzel County emergency services; OTHER U.S. REGIONS: Oglethorpe selects GE Vernova’s tech for new natgas plant; Mass. orders utilities to spend less ratepayer money on natural gas pipelines; New Plaquemines LNG terminal hit record highs on feedgas demand; NATIONAL: US shale to plateau if oil stays in current range, ConocoPhillips CEO says; U.S. natural gas jumps back up on short covering; INTERNATIONAL: WTI, Brent edge lower in choppy trade; China’s LNG traders embrace new role as global swing suppliers; Woodside sees global natural gas demand surging by 50% by 2030.

MARCELLUS/UTICA REGION

Expand Energy donates $20,000 to Wetzel County emergency services
Steubenville (OH) WTOV-TV
Expand Energy, the largest natural gas producer in the United States, donated $20,000 to the Wetzel County Emergency Management Agency to support its daily operations, as part of its “Expand for Good” initiative. This program, which has contributed over $145,000 to first responder and critical community programs across the Ohio Valley in 2025, aims to bolster local emergency services. The donation reflects Expand Energy’s ongoing commitment to the communities in which it operates, a tradition that predates its rebranding from Southwestern. Stephanie Paluda, Expand Energy’s community affairs manager, emphasized the company’s dedication to ensuring Wetzel County’s safety through well-equipped emergency services. Other counties, including Ohio, Marshall, Monroe, and Guernsey, also received similar donations. The funds stem from Expand’s 2024 charity clay shoot, which raised $146,000, demonstrating the company’s sustained efforts to support first responders and enhance community safety across the region. [MDN: A nice gesture. This is typical of the shale energy industry, to help fund local nonprofits and charities.]

OTHER U.S. REGIONS

Oglethorpe selects GE Vernova’s tech for new natgas plant
GE Vernova
Oglethorpe Power Corporation has selected GE Vernova’s advanced gas turbine technology for its new natural gas-fired power plant in Monroe County, Georgia, named Smarr Energy Facility, to meet the state’s growing energy demands and ensure energy security. The facility, a combined-cycle gas turbine (CCGT) plant, will utilize two GE Vernova 7HA.03 gas turbines, an STF-A650 steam turbine, and three H65 generators, offering a capacity of approximately 1,400 MW to power around 400,000 homes by 2030. This project, part of a collaboration with GE Vernova, includes a multi-year services agreement for equipment maintenance and is designed to enhance grid reliability while supporting Georgia’s economic growth and energy transition. The plant aims to provide efficient, reliable power with advanced technology to reduce carbon intensity, aligning with Oglethorpe Power’s commitment to affordable and sustainable energy solutions for its 38 member cooperatives. [MDN: GE Vernova appears to be the leader in gas-fired turbines. Georgia gets at least some (maybe most) of the natural gas it uses from the Marcellus/Utica, meaning the Smarr Energy Facility will likely be a new customer for our gas.]

Mass. orders utilities to spend less ratepayer money on natural gas pipelines
Boston (MA) WBUR PBS
Massachusetts officials are revamping the Gas System Enhancement Plan (GSEP), a program designed to replace leaky natural gas pipelines, due to its high costs and lack of cost containment, which have led to significant ratepayer surcharges. The state Department of Public Utilities introduced changes to reduce annual spending, eliminate certain interest fees, and prioritize severe leaks, projecting up to a 17% decrease in GSEP-related bill surcharges. These reforms aim to balance safety, affordability, and environmental goals, as natural gas leaks, primarily methane, contribute to climate pollution. Critics, including state officials and environmental advocates, argue that utilities have overspent on replacements when cheaper repairs would suffice, inflating profits. With a 2022 law mandating a phase-out of natural gas by mid-century, the changes encourage alternatives like electric heat pumps, aiming to save billions long-term while maintaining a safe gas system, as emphasized by utilities like National Grid and Eversource. [MDN: You can’t fix stupid. Massachusetts is already airborne over the edge of the cliff and is now hurtling toward the bottom. Grab the popcorn to watch the splat when it happens.]

New Plaquemines LNG terminal hit record highs on feedgas demand
RBN Energy
Last week, U.S. LNG feedgas demand increased by 0.24 Bcf/d, driven by higher intake at Freeport and the newly operational Plaquemines terminal, which set new records. Freeport’s flows rebounded after unexpected reductions from May 15 to 17, returning to full capacity by May 18, though the cause of the disruption remains unclear. Plaquemines LNG hit a record average of 2.34 Bcf/d, with Venture Global receiving FERC approval on May 8 to begin Liquefaction Block 13, boosting the terminal’s projected peak output from 3.2 Bcf/d to 3.6 Bcf/d. The project, still ramping up, will eventually require 3 Bcf/d across 18 blocks. Cove Point and Calcasieu Pass exceeded contracted levels, while Sabine Pass and Elba Island operated at full capacity. Cameron likely has one train offline for maintenance, with pipeline work ongoing, and Corpus Christi saw a temporary dip in feedgas but has since recovered. [MDN: LNG continues to be a great customer for M-U molecules, both along the East Coast and the Gulf Coast.]

NATIONAL

US shale to plateau if oil stays in current range, ConocoPhillips CEO says
Reuters
At the Qatar Economic Forum in Doha on May 20, 2025, ConocoPhillips CEO Ryan Lance warned that U.S. shale oil production is likely to plateau if oil prices remain in their current range of around $60–$70 per barrel and could decline if prices fall into the $50s. Lance noted that the breakeven point for shale producers has not shifted significantly, suggesting that prices between $65–$75 would support modest growth, but a drop below $60 could lead to reduced investment and unmet global energy demands, as echoed by Qatar’s Energy Minister Saad al-Kaabi. Forecasters like OPEC and the International Energy Agency have already lowered expectations for U.S. shale output due to prices hitting a low of near $55 in 2025. Lance projected a production plateau by the end of the decade unless new technological breakthroughs emerge, while also highlighting the need for growth in both U.S. and Qatar to meet rising global energy demands. [MDN: While we’d like to see shale oil production grow, it won’t grow forever. We’d rather have the price stay in the $60s and have production “plateau” as Lance has predicted. Nothing wrong with that. It keeps energy prices lower and that helps the economy. Eventually, things will pick up. Just wait and see. Mainstream media cheerleads for a sucky economy because they hate Trump and don’t want to see him succeed (and because they’re plain evil). Don’t fall for their claptrap. The economy is doing fine and will do better WITH low oil prices.]

U.S. natural gas jumps back up on short covering
Wall Street Journal
U.S. natural gas prices rebound after four sessions of losses on prospects of higher summer demand, prompting a short-covering rally. The recent decline amid a lack of news was overdone with the shoulder season approaching an end, says long-time natural gas trader John Woods. “We haven’t had our summer yet. Logic dictates that going into a summer season, you’re not going to make any money getting short at $3.” Prices probably still have some upside at $3.40, “but wait for the guys who are going to take profits off this,” Woods says. “You see people take short-term profits just because you can, and then you can reload again.” Nymex natural gas settles up 10% at $3.247/mmBtu in its biggest one-day rise since early April. [MDN: Whew! A day after we asked the question how low can the price go, it bounced back. Which makes us very happy! Let’s hope it keeps trending up and now down.]

INTERNATIONAL

WTI, Brent edge lower in choppy trade
Bloomberg/Rigzone
Oil prices dipped in a volatile session, influenced by weakened financial markets and uncertainty surrounding potential sanctions on Iran. The market fluctuated after Iran’s supreme leader, Ayatollah Ali Khamenei, expressed doubt about successful negotiations with the US on Iran’s nuclear program, reducing hopes for an agreement that could increase oil supply. US West Texas Intermediate (WTI) July futures fell 0.2% to $62.03 per barrel, while Brent also dropped 0.2% to $65.38, though it remained above $65 for the third session. Recent volatility stems from mixed signals about Iran-US talks, which could impact future oil supply amid expectations of an oversupplied market. Despite a 19% price drop in April, crude has rebounded this month, supported by easing US-China trade tensions and rising premiums for refined fuels, signaling stronger crude demand. Meanwhile, ConocoPhillips’ CEO indicated US shale output could plateau with prices in the $60s, as traders monitor the impact of lower prices on US production. [MDN: As we continue to point out, oil in the $60s is the sweet spot. Keep it up!]

China’s LNG traders embrace new role as global swing suppliers
Bloomberg
Chinese gas firms are taking advantage of diverse supply sources and a flexible power generation system to lean into the role of global swing suppliers. PetroChina Co., the country’s top gas supplier, is looking for upstream stakes in liquefied natural gas export projects or flexible purchase agreements to help turn from a buyer in overseas markets into a bigger trader, said Wang Haiyan, deputy general manager at the firm’s trading arm. The company is looking to build its LNG portfolio to 35 million tons by 2030, a jump of 75% from now, he said during a panel discussion at the World Gas Conference in Beijing on Tuesday. For China, it’s a kind of role reversal. Asia used to be the main source of demand and price-setting, while European nations acted as a sink, sopping up shipments in the event of a glut. That changed after Russian pipeline gas flows to the continent were drastically cut following its invasion of Ukraine. [MDN: We certainly hope American LNG projects don’t allow big Chinese investments. We don’t need our #1 enemy controlling more of our economy and economic future than they already do.]

Woodside sees global natural gas demand surging by 50% by 2030
OilPrice.com
Woodside Energy, Australia’s leading natural gas producer and developer of the Louisiana LNG export project, anticipates a 50% surge in global natural gas demand by 2030, according to CEO Meg O’Neill at the World Gas Conference in Beijing. Highlighting the role of gas in affordable, reliable energy for net-zero goals, O’Neill noted strong customer interest in securing LNG supplies into the 2040s. To meet this demand, Woodside acquired the Louisiana LNG project (formerly Driftwood LNG) for $1.2 billion and made a final investment decision in April, with Stonepeak investing $5.7 billion for a 40% stake. Woodside also signed a non-binding agreement with Saudi Aramco to explore equity and LNG offtake opportunities. Additionally, the company is advancing its Scarborough Energy Project in Western Australia, with key progress toward its first LNG cargo targeted for late 2026, reinforcing Woodside’s global LNG strategy. [MDN: Natural gas is the business Woodside is in. The future of the company depends on its management getting forecasts right. If Woodside says there’s a 50% surge in natgas demand coming, you can take it to the bank.]