Belmont County | Energy Services | Ethane | Industrywide Issues | Ohio | Processing Plants | PTT Global
Rumor: PTT Ohio Cracker Project FID Likely Coming in September
Every now and again we traffic in rumors here on MDN, but we do so rarely and only when we trust the source of the rumor. In mid-March we brought you juicy tidbits from a highly trusted source about the PTT Global Chemical ethane cracker project in Belmont County, OH, a rumor about why a final investment decision (FID) to proceed has been delayed (see Rumor: Holdup in PTT OH Cracker Final Decision Due to Labor Rate). Our source is back, with more juicy updates, including a bombshell…
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CNX Resources released its first quarter 2019 update yesterday, which shows the company lost $87 million, as opposed to making $527 million in profit in 1Q18. Even so, CEO Nicholas DeIuliis announced the company is upping its drilling budget from the previously announced $700 million to instead spend $885 million, largely to drill more “deep dry” Utica wells. Go big or go home!
Last week MDN told you that NextEra Energy, a partner in Equitrans’ 303-mile Mountain Valley Pipeline (MVP) that will run from Wetzel County, WV to the Transco Pipeline in Pittsylvania County, VA, said MVP will most likely not get finished this year (see 
Last September MDN told you that a new natgas-fired electric plant planned for the People’s Republic of Rhode Island in Burrillville was on life support, with antis reaching to pull the plug (see 
Big Green groups continue to sue pipeline companies and their projects in an attempt to block any new pipeline anywhere from getting built–period. One of their favored angles of attack is to try and find loopholes in, or even overturn, the Natural Gas Act of 1938.
For months Pennsylvania Gov. Tom Wolf has been traveling around the Keystone State pretending he’s Santa Claus, pushing a plan he calls Restore PA–a plan that will get rid of lead paint in schools, fix flooding, repair old roads, give rural residents internet access, and just about any other goody you can think of. The catch? The PA legislature must pass a Marcellus-killing severance tax to pay for it. Republicans from western PA called his bluff, offering an alternative way to fund it (see 
Andrew Cuomo has himself painted into a corner. In recent years he’s pandered to his radical/left environmental base by blocking natural gas pipelines. Another such project now must be decided, by May 16. Williams’ Northeast Supply Enhancement (NESE) project needs a water crossing permit from New York State. If Cuomo rejects the project, both Consolidated Edison and National Grid, the two utilities that supply New York City and its suburbs, including all of Long Island, with natural gas, have said they will slap a moratorium on all new gas customer hookups. Either way Andy is toast. Which way will he decide?
MARCELLUS/UTICA REGION: Is there something rotten in Dinniman country?; Senate Environmental Committee unanimously OKs renomination of Dunn as DCNR Secretary; War on natural gas will stunt economy, crush working class; OTHER U.S. REGIONS: Baker Hughes chooses Permian Basin to debut ‘electric frack’ technology; NATIONAL: BP is not on the hunt for US oil and gas deals, says CEO Bob Dudley; Warren Buffett backs Occidental’s bid for Anadarko with $10 billion investment; More U.S. LNG export projects moving toward FID; Hypothesis: Radical Greens are the great killers of our age; INTERNATIONAL: Brent could hit $100 on ‘unprecedented’ undersupply in 2020; Britain’s shale resignation; Stung by Trump’s criticisms of Russian gas deal, Germany makes its own threats; David Attenborough, dead bats and how radical Green propaganda relies on tragedy porn.