Boston Imports 10th Foreign LNG Cargo This Year – It’s Only August!
For more than four years, we have been calling attention to the fact that the Boston/New England area imports FOREIGN LNG each year, even though abundant DOMESTIC supplies sit a few hundred miles away in the Pennsylvania Marcellus (see Confirmed: LNG Coming to Boston on Jan 22 is Illegal Russian Gas). New England pays 2-4X as much for their imported natural gas as they would from the Marcellus/Utica. What stops Boston from using domestic supplies? Politicians (the governors) in both New York and Massachusetts block new pipelines. So far this year, Boston has imported ten cargoes of LNG at two facilities near Boston–roughly 16 billion cubic feet (Bcf) of natgas. All of it is from foreign sources.
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In September 2021, the Weirton (WV) Zoning Board of Appeals rejected a request by Southwestern Energy to build a well pad inside city limits (see 
A futures contract is a legal agreement to buy or sell a particular commodity asset (like natural gas) at a predetermined price at a specified time in the future. The Henry Hub Natural Gas futures contract (NG) on the New York Mercantile Exchange (NYMEX) is widely used as the national benchmark price for natural gas. The Henry Hub (HH) is located in southern Louisiana where 16 interstate natural gas pipeline systems converge. But just about any trading hub along natgas pipelines can have a futures contract associated with it. For example, the Eastern Gas South hub in southwestern Pennsylvania (which used to be called Dominion South) has monthly futures contracts extending out for years. Eastern Gas South and other M-U hubs are seeing the price for futures contracts drop like a rock compared to HH. Why? Lack of takeaway pipeline capacity.
In June, seemingly out of nowhere, a plan to build an LNG export facility on the banks of the Delaware River south of Philadelphia made big headlines in Philly. Penn LNG, headed by Franc James, a native of Philadelphia, has “quietly lined up support to build a $6.4 billion liquefied natural gas export terminal near Philly.” While acknowledging such a project will face stiff opposition, James is planning to pre-file with Federal Energy Regulatory Commission (FERC) by the end of this year, and reach a final investment decision (FID) by 2024. Full speed ahead!
We experienced déjà vu as we read about a hearing held Tuesday evening in Plum Boro (Allegheny County, PA) about a proposed shale wastewater injection well. Some 20 people made their way to the microphones to voice their objections to plans by Penneco Environmental Solutions to site a second injection well in the boro–right next to an existing injection well. We’ve heard it all before, almost four years ago, when some of the same people objected to Penneco’s plans to install the first injection well (see 
Drillers (exploration and production companies, or E&Ps) were thrilled with record-high earnings and cash flow in the second quarter of this year. Soaring commodity prices and “strict financial discipline” on the part of oil and gas drillers resulted in pre-tax operating earnings and cash flows surging by 29% and 22%, respectively, from 1Q22. And 1Q22 was up too! So what did drillers, especially drillers in the Marcellus/Utica, do with all that extra cash? Did they pay down debt? Buy back shares of company stock? Issue higher dividends? Something else?
Get a Democrat nurse to repeat the talking points from two far-left, lying Democrat groups (the Conservation Voters of PA and the NRDC) bashing the Republican candidate for governor, Doug Mastriano, in a TV commercial, and it’s just another regurgitate-the-lies story from lamestream media. This time the lies are that Doug Mastriano loves to pollute–because he stands up for the Marcellus shale industry in the state. We hope PA residents (and U.S. residents across the country) are beginning to see through the lies spread by the Democrat left. The left can’t argue and debate the facts, so they resort to name-calling and lies. The good news is that the left is spending money on this kind of thing, meaning they don’t believe that hardened anti-driller Josh Shapiro (Democrat, currently Attorney General) has the race for governor locked up–as all the “polls” quoted by lamestream media indicate.
MARCELLUS/UTICA REGION: Field research confirms natural gas developed safely; OTHER U.S. REGIONS: Tulane prof sees bright future for natgas, renewables, but not for oil; NATIONAL: EIA expects U.S. ethane production to grow in second half of 2022; Jim Cramer says he likes these 5 LNG stocks for the long haul; As natural gas prices jump, shale oil firms get gassy; INTERNATIONAL: Full gas storage no fix for Europe’s winter energy crunch; Germany’s energy crisis dispels several myths.