Venture Global Begins Construction Work at CP2 LNG in Louisiana
Venture Global (VG) has begun construction on the Calcasieu Pass 2 (CP2) LNG export facility in Cameron Parish, Louisiana. This is the third LNG facility VG will have built, and upon completion, it will propel VG to be the largest LNG exporter in the United States and the second largest in the world. Pretty heady stuff. CP2 is expected to bring new LNG supply to market beginning in 2027. Given the facility’s location, we’re confident that at least some (perhaps a lot) of Marcellus/Utica molecules will help feed it. Read More “Venture Global Begins Construction Work at CP2 LNG in Louisiana”
Did you know that artificial intelligence (AI) services like ChatGPT “isn’t great for the planet”? That you should be using AI responsibly. And that you can choose an AI model that “harms the planet less.” This is the lunacy now coming from the left. Last week, on the same day, both the New York Times and the Washington Post (the epitome of leftist groupthink) published stories warning readers that using AI is killing the planet. Here we go again. Yeah, you should just remain dumb and give up your use of AI. That’s the solution! 
OTHER U.S. REGIONS: New York launches first nuclear energy project in US in 15 years; NATIONAL: What if the foundation of the climate scare was a calculated lie?; Natural gas price slides below $3.90 as momentum cools after failed breakout; How the end of carbon capture could spark a new industrial revolution; INTERNATIONAL: Oil settles down 7% after Iran attacks US military base in Qatar, not tankers; Global turmoil proves urgency of energy independence; The U.N. Human Rights Council’s plan to crush the fossil fuels industry; Gas power is making China dependent on LNG shipping. 
Last week, for the eighth week in a row, the Baker Hughes U.S. rig count dropped, down by one rig to its lowest level since November 2021. This is the first time we’ve seen a slide in the count for eight weeks (or more) since September 2023. The national rig count continues in free fall, although perhaps the rate of descent is slowing. The Marcellus/Utica count remained the same last week, at a combined 36 active rigs. The Pennsylvania Marcellus operated 18 rigs. The Ohio Utica operated 11 rigs. And West Virginia operated seven rigs. 
This is an unfortunate part of mergers and acquisitions. The Houston Chronicle is reporting that a WARN notice (Worker Adjustment and Retraining Notification) filed by Encino Energy indicates that 121 Encino workers will be laid off on or around August 17. No reason is given, however, EOG Resources is in the process of buying out and merging in Encino’s Ohio Utica assets (see 
The Pennsylvania Independent Fiscal Office (IFO) is out with an initial estimate for how much money will be raised and distributed from the 2025 impact fee assessment. The IFO projects that impact fee revenue will increase by $70 million in 2025 compared to the revenue collected in 2024. IFO predicts revenues will hit around $235 million. The impact fee is PA’s version of a severance tax. The impact fee generated $164.6 million in 2024 and $179.6 million in 2023. 
A leftist anti-fossil group calling itself Protect PT (Penn-Trafford), located in Westmoreland County, PA, backed with big money from Big Green groups, has for years challenged Penn Township ordinances that allow Apex Energy (now CNX Resources) to drill and operate shale wells. Protect PT finally struck out (legally) at the Pennsylvania Supreme Court in May 2020 (see 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the June 21 Pennsylvania Bulletin that the Executive Director of the SRBC renewed 38 general water use permits in May for individual shale gas well drilling pads in Bradford, Cameron, Clearfield, Lycoming, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. So far in 2025, the SRBC has issued or renewed 225 general water use permits for shale gas development. 
The United States continued to produce more energy than it consumed in 2024. This surplus energy production helped energy exports grow to a record high 30.9 quadrillion British thermal units (quads) in 2024, up 4% from 2023. Energy imports remained flat at 21.7 quads in 2024, indicating that the United States exported 9.3 quads more energy than it imported, the highest net exports in the records of the U.S. Energy Information Administration (EIA), which date back to 1949. Thanks to the miracle of shale energy! 
It’s not often this happens. Last week, for the week of Jun 9 – 15, only Pennsylvania issued new permits to drill shale wells. Neither Ohio nor West Virginia issued any new shale permits. Bummer. PA issued 18 new permits last week. Eight of the permits went to Pennsylvania General Energy for a single pad in Lycoming County. Another six permits went to Range Resources for a single pad, also in Lycoming County. Ergo, 14 of the 18 permits were issued in Lycoming County. 
Last week, MDN told you that EQT’s vice president of midstream, Robert Wingo, was moving on to another job (see 
Recent actions taken by the Federal Energy Regulatory Commission (FERC) appear to be quite significant, yet it has not received any media attention. On June 18, FERC took several actions to remove regulatory obstacles and therefore speed up the construction of needed natural gas infrastructure projects in the United States. FERC issued a blanket waiver (valid for the next two years) of its Order No. 871, which has allowed Big Green to block the construction of pipeline projects while rehearing requests are being handled. The result has been to delay projects by years while Big Green ties up such projects with endless appeals. Waiving Order No. 871 frees up FERC personnel to go ahead and issue orders to allow projects to begin construction. 
Commonwealth LNG received major news this week from two different government agencies. The first bit of news was a final authorization from the Federal Energy Regulatory Commission (FERC) to proceed with building the $11 billion project in Cameron, Louisiana. The second bit of news was a final authorization to export to countries without a free trade agreement (FTA) with the United States, granted by the Department of Energy (DOE). Commonwealth still plans to make a final investment decision (FID) on the project in the third quarter of this year. 
Energy Transfer (ET) is a major energy infrastructure company based in Dallas, Texas, owning and operating one of the largest and most diversified portfolios of energy assets in the United States. It is a publicly traded master limited partnership with a vast network of pipelines and associated infrastructure, transporting a variety of energy products (natural gas, NGLs, oil, refined products) across the country. In our region, ET built and operates the Rover Pipeline, Mariner East, Revolution, and various refined products (gasoline, oil) pipelines. Big company. Important company. However, it wasn’t always this large and significant. How did it get that way?