Cedar LNG Awards Contract For State-Of-The-Art Floating LNG Unit
The Cedar LNG project, a landmark development...
The Cedar LNG project, a landmark development in the LNG industry, has recently appointed Samsung Heavy Industries and Black & Veatch for the engineering, procurement, and construction of its floating LNG production unit in Kitimat, Canada.This project is significant as it's the world's first Indigenous majority-owned LNG project, a collaboration between the Haisla Nation and Pembina Pipeline Corporation. It aims to export three million tonnes of LNG annually, utilizing Canada’s sustainable natural gas supply from the Coastal GasLink pipeline.
Cedar LNG is designed to be one of the lowest-emitting LNG facilities globally, with a focus on minimizing environmental impact.The facility will be powered by renewable electricity from BCHydro, aligning with the project's commitment to sustainable and low-carbon LNG production. With major regulatory approvals and memorandums of understanding in place for its total liquefaction capacity, Cedar LNG is progressing toward a final investment decision expected by the end of the first quarter of 2024
Saturn Oil & Gas Inc.'s first Open Hole Multi-Lateral (OHML) Bakken well in Southeast Saskatchewan showcased impressive results, with initial production significantly exceeding expectations. The well, drilled with eight open hole, and unstimulated lateral legs, achieved an initial 30-day average production of approximately 233 barrels per day of light oil.
This performance, 49% above the company's expected production curves, demonstrates the effectiveness of OHML drilling. These wells have smaller surface footprints and require less water compared to conventional techniques, enhancing their economic viability.Following this success, Saturn has identified up to 100 OHML drilling locations in the area, suggesting a potential for significant expansion and development in this region
Average U.S. Natural Gas Prices Plunge by 62% in 2023
The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu...
The dramatic decrease in U.S. benchmark natural gas prices, averaging $2.57 per MMBtu in 2023, was a result of a unique combination of factors. Record-high natural gas production, primarily in the Permian, Haynesville, and Appalachia regions, significantly outpaced growth in consumption, leading to this price drop.
Production levels also reached an all-time high of 104 billion cubic feet per day, 4% higher than the previous year. In contrast, demand only saw a 3% increase due to higher exports and a slight rise in natural gas used for electricity generation.
Mild winter temperatures, particularly in January and February, also played a role, leading to reduced consumption in the residential and commercial sectors and the lowest total U.S. natural gas consumption for these months in seven years
Gas drilling activity seen slowing in 2024 after banner year
In October, the US achieved a record-high monthly average natural gas production of 126.3 Bcf/d, with...
In October, the US achieved a record-high monthly average natural gas production of 126.3 Bcf/d, with Texas leading at 34.7 Bcf/d and Pennsylvania at 20.6 Bcf/d, Energy Information Administration data show. However, analysts foresee a production dip in dry gas basins this year as producers prepare for a phase of lower gas prices before an anticipated surge in demand from new liquefied natural gas terminals materializes.
🇮🇷ISIS took responsibility for the deadly bombing in Iran
According to a post on its Telegram account, the terrorist group claimed it was behind the attack, which ...
According to a post on its Telegram account, the terrorist group claimed it was behind the attack, which killed 84 people during a memorial procession for General Qasem Soleimani. It was the deadliest attack in Iran since the country’s 1979 revolution. The group did not provide firm proof of its involvement, and its version of events differed from some reports in Iranian media. The attack further stoked fears that the Israel–Hamas war could turn into a wider regional conflict after this week’s assassination of a top Hamas leader in Lebanon, the US launching an airstrike that killed a militia leader in Iraq, and ongoing attacks by Iran-backed Houthi rebels on commercial ships in the Red Sea.
