PennEast Spins FERC Delay as a Good Thing – Optimism or Denial?
We understand the value of a healthy, optimistic attitude. We consider ourselves to be a “glass half full” rather than “glass half empty” type of people. But we’re also realists. Last week the builders of the proposed PennEast Pipeline–a $1.2 billion, 114-mile, 36-inch diameter pipeline that will deliver approximately 1 billion cubic feet of natural gas per day from the Marcellus gas fields of northeastern PA to locations in southeastern PA and across the border to Trenton, NJ–received what we considered bad news. The Federal Energy Regulatory Commission (FERC) told PennEast they would extend the amount of time they are taking until December of this year, rather than August, to complete their Environmental Review. And FERC won’t issue their final decision on authorizing the project until March 2017–at the earliest. PennEast had requested FERC wrap it all up by this August–an 8-month delay. In our book, that’s mildly bad news. But yesterday PennEast issued a press release saying the FERC announcement is an “important milestone,” almost lauding FERC for moving so quickly given a plateful of pipeline applications–even though it means the PennEast project now won’t be completed until 2018 instead of 2017. Is this a “glass half full” optimistic attitude? Or self-deluding denial? We can think of many reasons why it’s a manifestly bad thing that FERC has delayed–not the least of which is are multiple lawsuits sure to be launched by the radicals at THE Delaware Riverkeeper…
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Everybody loves a list. We do too! We spotted a ranking in a recent issue of the Pittsburgh Business Times that lists the top 37 shale gas producers in southwestern Pennsylvania, based on the amount of gas they produced in 2015. We pulled the names of the top 10, listed in order from most to least…
Earlier this week (March 30th) the 2016 Northeast Oil & Gas Awards and Industry Summit was held in Pittsburgh. Once again the Awards and the Summit were a smashing success. Congratulations to all of the finalists and winners! Each year the Oil & Gas Awards recognize organizations operating responsibly and supporting the communities they operate within. Now in their 4th year, the Oil & Gas Awards are judged by over 100 senior industry professionals. Partners in the Northeast Awards are The US Chamber of Commerce, The Pennsylvania Chamber of Business and Industry, The Washington County Chamber of Commerce and the Western Virginia Oil and Natural Gas Association. Here is a complete list of the winners, by category…
The Swiss-based company INEOS is a young but rapidly growing chemical company with roughly $40 billion in sales per year. INEOS’ competitors would be companies like BASF, Bayer and Dow Chemical. One of the projects owned by INEOS is an ethane cracker/chemical plant complex in Grangemouth, Scotland. It is Scotland’s biggest manufacturing complex hosting Europe’s biggest ethane storage tank–able to store up to 33,000 tonnes of liquid natural gas. INEOS announced yesterday that the second manufacturing unit at the Grangemouth plant has been “brought back to life” some eight years after being mothballed. The reason? To begin processing Marcellus shale ethane that will be shipped to it later this year from the Marcus Hook refinery near Philadelphia…
Pennsylvania’s small, conventional oil and gas drillers have had enough of Gov. Tom Wolf and his Secretary of the Dept. of Environmental Protection, John Quigley. Last week a trade association representing many of PA’s small, independent oil and gas drillers–the Pennsylvania Independent Petroleum Producers Association (PIPP)–filed a lawsuit against implementation of new rules and changes to existing rules known as Chapters 78 & 78a (see