Can a Single US LNG Export Facility Affect the Price of NatGas?
No doubt you’ve noticed the price of natural gas has been relatively low over the past few weeks, dropping from around $2.40 per thousand cubic feet (Mcf) a month ago to now flirting with $2/Mcf. The last time gas prices went below $2/Mcf was in 2016. One of the reasons, believe it or not, that the price has fallen dramatically over the past few days is because of a single LNG export facility–Cheniere Energy’s Sabine Pass facility (which exports some M-U gas).
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MARCELLUS/UTICA REGION: Trump calls off planned trip to Shell’s cracker plant in Beaver County; All that rain drives demand for seeding, water barriers; Yudichak, DEP secretary tout severance tax proposal to aid Nanticoke park plan; Susquehanna County responds to EMS crisis using shale money; OTHER U.S. REGIONS: Freeport LNG allowed to export commissioning cargoes; Big Oil taking smaller rivals to school on shale; Inland leaders defend natural gas in homes, businesses; NATIONAL: United States sets new daily record high for natural gas use in the power sector; U.S. natural gas exports top 1 Tcf in 1Q2019, says DOE; Biden’s plan to eliminate fossil fuels is bad for our national security, worse for our economy; Give up your gas stove to save the planet? Banning gas is the next climate push; INTERNATIONAL: As Europe swelters, illegal refrigerants are emitting four million cars’ worth of CO2.
A small group of New York landowners in Tioga County, NY continue to pressure the New York Dept. of Environmental Conservation (DEC) to allow them to drill and frack a single Utica well using LPG, or liquefied petroleum gas (i.e. propane). The DEC under the direction of Andrew Cuomo continues to purposely drag its feet in approving the project. The landowners are not giving up and hope to prove that fracking in NY can happen. They’re keepin’ the dream alive.
Last Thursday the Texas Eastern Transmission Company (TETCO) pipeline exploded near a trailer park in Lincoln County, Kentucky (see 
Last week midstream giant Williams released its second quarter 2019 update. Although the company reported net income of $175 million, up 130% over the previous year’s 2Q, total revenue dipped a tad from $2.09 billion to $2.04 billion. Amidst a lot of good news, there was one cloud. Because northeast drillers are pulling in the production reigns (given super low prices), and because Williams has recently sold off a bunch of assets, the company has launched a “voluntary separation program” to reduce head count.
Last week National Fuel Gas Company (NFG), headquartered in Western New York State (operates drilling subsidiary Seneca Resources and pipeline subsidiary Empire Pipeline), issued its quarterly update. The company says it plans to cut back on its natural gas drilling in central and western Pennsylvania next year from three rigs to two, but will increase investment and work on pipelines.
Gulfport Energy, one of the biggest drillers in the Ohio Utica Shale (210,000 acres), concentrates its drilling in the Ohio Utica and the Oklahoma SCOOP plays. The company released its operating and financial update for 2Q19 last week. As we told you in May, 2019 is “the year of the DUC” for Gulfport (see 
Another so-called “study” has appeared bashing Pennsylvania Marcellus fracking. This one is co-authored by a global warming Kool Aid drinker affiliated with the Post Carbon Institute, making the claim pregnant women in Pennsylvania have a 4% higher chance of becoming anxious and/or depressed if they live near fracking activities. How these people are not laughed out of any room they walk into is beyond us.
Yesterday Antero Resources, one of the biggest (and best) drillers in the Marcellus/Utica, issued their second quarter update. The company spent the lowest amount of money to drill in 2Q of any quarter since 2013 (just $303 million), yet production was 28% higher in 2Q than a year ago.
Last December MDN brought you news of a new Transco pipeline expansion project, the Williams “Leidy South Project,” to expand Transco capacity in Pennsylvania (see 
A new group has formed in New York State with the aim of using a recent U.S. Supreme Court decision as ammunition to sue NY over its ban on hydraulic fracturing. The new group, called Landowner Advocates of New York (LANY), was started by MDN friend Vic Furman. Could this finally be the solution to force Andrew Cuomo to allow fracking?
Mountain Valley Pipeline (MVP), a 303-mile natural gas pipeline from West Virginia into Virginia (being built by Equitrans Midstream) is now 85% complete. Lawsuits are holding up completion of the pipeline, now expected to be done in mid-2020. The project has faced opposition from a small but dedicated group of loons willing to break the law (see 
This is no joke. It’s not an “Onion” piece where we’re trying to fool you. In June the New York State legislature passed a horrific “energy” bill that was later signed into law by Gov. Andrew Cuomo (see