U.S. LNG FOR EUROPE ANEW
OGJ - Europe's natural gas market is evolving from politically driven projects to commercial agreements, and US suppliers will need to move more aggressively on those terms if they expect to be a substantive part of it, speakers suggested at a Mar. 20 conference. "US suppliers have an opportunity to step in now and line up customers when prices are low. The biggest question is who will take the strategic risk," said Mindaugus Jusius, chief executive at AB Klaipedos Nafta, Lithuania's state oil products and gas terminal company.
"The US government did its part to start reforming policies, but US gas is owned by companies which need to start moving the conversation about liquefied natural gas in Europe from political to commercial terms," added Amos J. Hochstein, senior vice-president for marketing at Tellurian Inc. in Houston, during the discussion on expanding global gas infrastructure hosted by LNG Allies and Our Energy Moment.
Hochstein added, however, that it will be necessary for the US, as well as Europe, to increase its gas pipeline capacity because Permian basin production associated with crude oil has risen so dramatically. "It's at a critical point; $150 billion of new infrastructure will be needed domestically. With all the growth in the Permian, there's not capacity to ship gas to Louisiana," Hochstein said. "If governments in both the US and Europe aren't willing to put infrastructure in place, real progress won't be made."
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WNN - The future of nuclear energy depends on the industry’s readiness to address the seven factors influencing its prospects, the deputy director general of the International Atomic Energy Agency (IAEA) told delegates at the World Nuclear Association Symposium 2018 held in London last week.
WNN - The UK's National Nuclear Laboratory (NNL) and the US Department of Energy's Oak Ridge National Laboratory (ORNL) have agreed to cooperate on nuclear energy research. The announcement came as the UK and USA signed a nuclear R&D action plan.
U.S. FRB - Industrial production rose 0.4 percent in August for its third consecutive monthly increase. Manufacturing output moved up 0.2 percent on the strength of a 4.0 percent rise for motor vehicles and parts; motor vehicle assemblies jumped to an annual rate of 11.5 million units, the strongest reading since April. Excluding the gain in motor vehicles and parts, factory output was unchanged.
BAKER HUGHES A GE - U.S. Rig Count is up 7 rigs from last week to 1,055, with oil rigs up 7 to 867, gas rigs unchanged at 186, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 22 rigs from last week to 226, with oil rigs up 15 to 148 and gas rigs up 7 to 78.