Intl LNG Shipping Co. Provides Update on Worldwide LNG Trade
Flex LNG is a shipping company based in Bermuda focused on the growing market for Liquefied Natural Gas (LNG). Flex’s fleet consists of thirteen state-of-the-art LNG carriers that travel the world. If anyone is tuned in to what’s happening with the price of natural gas and how that price affects LNG, it’s Flex. CEO Øystein Kalleklev delivered a presentation at a natural gas seminar hosted by Danske Bank on Tuesday. Flex conveniently offered a copy of the presentation for download (see it below). Although the presentation comes with no accompanying commentary, it has some fascinating slides loaded with great information, including a slide listing the reasons for the cause of the current energy crisis that’s led to a spike in natural gas prices.
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Terry Etam, an energy writer with over two decades in the business, has a short but brilliant take on what’s causing the mayhem currently happening in the energy world. Writing on the Watts Up With That? blog site (the world’s most viewed site on global warming and climate change), Etam makes the case that within a few months, the “divest fossil fuels” campaign is going to look like the dumbest movement in history…
For whatever reason, the Ohio Dept. of Natural Resources (ODNR) is behaving like a child with its heels dug in, refusing to do what it’s supposed to do. In July 2019 MDN told you about New Jersey-based Omni Energy Group and their application to build two new injection wells near St. Clairsville (see 
Yesterday we told you about a recent bankruptcy hearing for Pennsylvania shale driller Rockdale Marcellus, a hearing in which UGI Energy Services sought to gain access to details about Rockdale’s assets that are now up for sale (see 
Six of the seven largest shale plays in the U.S. will see a slight increase in both natural gas and oil production in November according to the latest monthly Drilling Productivity Report (DPR) issued by the U.S. Energy Information Administration (EIA). The Marcellus/Utica, collectively lumped together as “Appalachia” in the report, will see an estimated increase of 41 MMcf/d (million cubic feet per day) in production next month–something of a disappointment. The M-U’s chief rival, the Haynesville, will see explosive growth, an increase of 135 MMcf/d. The oil-based Permian will see an increase in natgas production of 78 MMcf/d.
The Democrat mainstream media was striking out by using the trite phrase of “blast zone” to try and scare people who happen to live near the path of a simple, safe natural gas pipeline, like that proposed in Hanover County, Virginia. As the lefty libs so often do, they’ve changed their language in an effort to change how people perceive such a project. It’s no longer a blast zone, now (drum roll please)…it’s an INCINERATION zone! Yeah baby! You’ll be fried to a crisp if you live near a pipeline and that pipeline experiences a leak and explodes. So pathetic.
As Joe Biden and his inept White House cast about for someone or something to blame for his policies that are causing a spike in energy prices here in the U.S., one of the potential targets is LNG exports. Some lefties in Washington are making noises that if we limit or even cancel LNG exports, that would bring down natural gas prices here at home. According to the Executive Director of the Center for LNG (CLNG), that’s just not true.
The benchmark NYMEX natural gas futures price at the Henry Hub lost ground for the second day yesterday, slipping below $5/MMBtu for the first time in nearly a month. The NYMEX was down 69.80 cents or 12.27% over the last two trading sessions. Ouch. However, we shouldn’t be surprised. And we don’t expect it to stay down long. The main reason for the loss is the weather–as in the forecast says we can expect warmer weather will be with us, at least in the northeast, until early November.
S&P Global Platts and Xpansiv have joined forces to launch a new benchmark for methane performance in natural gas production in the United States. Methane Performance Certificates (MPCs) allow a U.S. shale producer to sell instruments representing zero methane emission natural gas production. Our immediate impression was to think of medieval-era indulgences sold to atone for sins.
