Yet Another Methane Emissions Measurement Initiative Launches
Yet another entrant in what is becoming a crowded field of programs aimed at reducing methane leaks from natural gas systems. A coalition of major U.S. natural gas operators, including Devon Energy, EQT, Sempra, Southern Company, and Williams, have signed on to something called the Veritas project, created by research firm GTI. How will Veritas reduce methane emissions and how is it different from Project Canary and other similar programs?
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You knew the NYMEX (and spot) price for natural gas couldn’t go up forever. There will be days when it falls, or “corrects.” Yesterday was a big correction as the NYMEX futures price dropped 7.36% (down $0.40)–the biggest single-day drop in the NYMEX price in nine months. Despite the big drop, most experts we’ve read believe this is a temporary correction and the price will continue to climb.
OTHER U.S. REGIONS: Haynesville gas production hits record high as US market tightens, prices surge; NATIONAL: Record operating costs are slowing the U.S. shale drilling revival; President Biden’s ‘green’ obsession is already a disaster; INTERNATIONAL: OPEC says India will be hooked on oil for years; China’s Shanghai gas exchange launches spot pricing for imported LNG.
For years anti-fossil fuelers have sought to make confidential safety information about the Mariner East 2 (ME2) pipeline public. Specifically, they want to reveal “blast radius” information in hopes of inflaming opposition against the pipeline in their near-religious effort to get the pipeline permanently shut down (see 
Everyone wants to be perceived as “responsible” these days, as in “responsibly sourced gas.” How to do it? Project Canary is a Denver-based firm that developed its own methane measurement technology and third-party verification called TrustWell™. A number of Marcellus/Utica drillers, including EQT, Chesapeake Energy, Southwestern Energy, Range Resources, and Seneca Resources have all joined the Project Canary program. Tallgrass Energy’s Rockies Express (REX) Pipeline aims to be the first interstate pipeline system that is Project Canary certified end-to-end, flowing Marcellus/Utica gas responsibly.
For years we have pointed out the botched strategy of New England politicians in blocking new pipelines to the region from the Marcellus. In the past during cold weather events, New England, which relies heavily on natural gas to generate electricity, has imported natural gas from our enemies in Russia in order to keep the lights on (see 
The price of natural gas, both the futures price at the Henry Hub NYMEX, and the spot price at hundreds of trading hubs across the country, continues to rise. The commodity price of natural gas has been the focus for a number of MDN posts in recent weeks. The question we’re often asked is, What will the price do over the next year or so? Will it stay this high? Will it decrease? We have two articles to share predicting what the NYMEX price of natural gas will be in the spring (and beyond). We think you’ll find both articles interesting. Let’s haul out the crystal ball…
A healthy number of permits were issued to drill new shale wells across the Marcellus/Utica region last week. Pennsylvania issued 19 new permits in both southwest and northeast PA. Ohio issued 8 new permits, all of them to a single driller (Ascent Resources) for two well pads in two different counties. West Virginia issued 9 new permits–all but 2 of them were issued to Antero Resources in Tyler County.
Yesterday the “front month” October contract for the Henry Hub NYMEX price of natural gas soared 11% and settled at $5.706/MMBtu, the highest closing price since Feb. 21, 2014. Intraday trading went well over $6 per MMBtu. We keep seeing the word “contagion” as the main explanation for the soaring price. No, not the COVID contagion, but the psychological contagion of high prices globally. The price of natgas in Europe and Asia is skyrocketing (in the $25-$30/MMBtu range), which causes traders here to anticipate demand for our gas (via exports) will remain strong, driving up domestic prices. Ultimately fear drives the financial markets more than any other factor.
A long-fought-over wastewater injection well in Plum Boro (Allegheny County, Pittsburgh suburb) finally opened for business earlier this year, having overcome all sorts of smears and slanders and lawsuits by the enviro-left (see 
States often get excited when the federal government deigns to hand out taxpayer money in dribs and drabs, a billion here and a billion there. Yet the best source of money to pump into an economy is private funds, invested by private companies. Private investment 