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gasfacts2019

Flaring and venting of natural gas in the Permian basin in Texas and New Mexico has reached an all-time record high in this year’s first quarter, averaging 661 MMcfd, according to research conducted by Rystad Energy. This widespread waste of a valuable commodity is the result of persistent infrastructure challenges, a lack of enough takeaway capacity, and an unexpected outage on a key pipeline in the area.

Total SA has agreed to take over Toshiba’s portfolio of LNG, including a 20-year tolling agreement for 2.2 million tonnes/year of LNG from Freeport LNG Train 3 in Texas and the corresponding gas transportation agreements on the pipelines feeding the terminal. Train 3 is expected to start commercial operations by second-quarter 2020.

US Transportation Sec. Elaine L. Chao submitted a legislative proposal to Congress on June 3 that would reauthorize safety programs at the US Pipeline and Hazardous Materials Safety Administration (PHMSA) from fiscal 2020 through 2023. It also would strengthen criminal penalties for damaging or destroying a pipeline facility, which the Association of Oil Pipe Lines welcomed.

Light, sweet oil for July climbed modestly on the New York market to settle above $53/bbl June 4 while the Brent contract for August also gained to settle at nearly $62/bbl in London. Oil prices, along with other stocks and commodities, have been pressured downward recently by rising concerns that the world economy is slowing, which some analysts attribute at least in part to ongoing US-China trade tensions.

Anadarko Petroleum Corp. has let an engineering, procurement, and construction contract to CCS JV, a joint venture of McDermott International Inc., Saipem, and Chiyoda, for the Mozambique Area 1 LNG Development.

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