Not Logged In Log In   Sign Up   Points Leaders
Follow Us    8:52 PM

Message Forum - Read Message

Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: U.S. to Cap LNG Exports to Boost Economy, Shell’s Voser Says Back to Topics
mastermariner

Champion Author
Texas

Posts:12,983
Points:1,159,270
Joined:Jun 2011
Message Posted: Jan 25, 2013 9:07:38 AM

he U.S. won’t rival Qatar and Australia as the world’s largest liquefied natural gas exporter as it keeps fuel at home to drive an industrial renaissance, Royal Dutch Shell Plc (RDSA) Chief Executive Officer Peter Voser said.
The U.S. may export 50 metric million tons a year of LNG by the end of the decade, or about 10 percent of the projected world market, Voser said today in a Bloomberg TV interview in Davos, Switzerland. That’s below the 120 million tons a year he said is predicted by some forecasters and less than Qatar’s current annual production of 77 million tons. Australia is projected to pass Qatar by the end of the decade.

“Exports will happen,” said Voser, 54, whose company is the world’s largest LNG supplier. “But I hope that the U.S. will actually keep most of the gas back be
Visit Bloomberg for full article
REPLIES (newest first) Post a Reply
Profile Pic
MAC48
Champion Author Dallas

Posts:3,631
Points:1,397,140
Joined:Dec 2006
Message Posted: Jan 26, 2013 8:22:22 PM

It makes sense to limit the export of LNG to the capacity of existing LNG infrastructure plus any LNG infrastructure currently under construction. This would protect the shale gas resources for future domestic North American continent use and to incentivize the expansion of bifuel (CNG and Gasoline) vehicles such as pickups and large vans in addition to the use of LNG as a fuel for heavy duty trucks and trains.
Profile Pic
sjf238
Champion Author Philadelphia

Posts:1,215
Points:650,655
Joined:Mar 2011
Message Posted: Jan 26, 2013 7:51:42 PM

We lose again.
Profile Pic
hskerven
Sophomore Author Wisconsin

Posts:167
Points:172,415
Joined:Jan 2013
Message Posted: Jan 26, 2013 7:45:14 PM

that's just going to Jack our prices
Profile Pic
dave27johnson
Champion Author Chicago

Posts:2,608
Points:1,029,655
Joined:Feb 2012
Message Posted: Jan 26, 2013 7:05:53 PM

Keep the gas we need & import the rest.
Profile Pic
NHLiveFree
Champion Author New Hampshire

Posts:14,469
Points:2,293,220
Joined:Jun 2008
Message Posted: Jan 25, 2013 8:42:31 PM


How nice of RDS head Voser to make the call on U.S. energy exports. Since the greatest need is here, it should all remain for use only in the USA. If it is exported, what does the USA do in the next century when it is all gone? Keep USA natural resources in the USA.
Profile Pic
Lugi1967
Champion Author Ohio

Posts:7,319
Points:1,666,650
Joined:Jun 2010
Message Posted: Jan 25, 2013 4:07:01 PM

Free enterprise
Profile Pic
PrinceLH
Champion Author Ontario

Posts:5,592
Points:1,227,320
Joined:Jun 2011
Message Posted: Jan 25, 2013 3:07:38 PM

A good way to do this, is to have export tariffs, for all refined energy products, leaving North America. The Mexican's and Canadian's should agree to the same tariff percentages and reap the windfall. Two things happen. We get more money from offshore countries, buying our exports. And if there's a refusal by these countries to pay the tariff, it creates more inventory and hopefully lower prices, for North American consumers.
Profile Pic
tankumo
All-Star Author Vancouver

Posts:958
Points:370,905
Joined:Dec 2012
Message Posted: Jan 25, 2013 1:50:45 PM

But the US has a lot more potential, the storage is way full now, they can still afford to export.

Yeah, don't export too much, have to keep a tight control. Export also generates income, not a bad thing.

I just wish we use more gas for cars....
Profile Pic
peakkeller
Champion Author Colorado Springs

Posts:2,464
Points:940,545
Joined:Dec 2009
Message Posted: Jan 25, 2013 12:20:45 PM

The fact that Australia will pass Qatar by the end of the decade is huge.
Profile Pic
MadFueler
Champion Author Winston-Salem

Posts:4,131
Points:861,945
Joined:Sep 2012
Message Posted: Jan 25, 2013 12:20:13 PM

Wouldn't it be easier for Japan to buy from Russia or China, and then just keep us in their hip pocket in case something 'goes south'?
Profile Pic
Night Owl
Champion Author Toronto

Posts:10,350
Points:2,470,730
Joined:Jul 2004
Message Posted: Jan 25, 2013 12:09:56 PM

Exports only increase prices domestically.
Profile Pic
md11capt
Champion Author Denver

Posts:4,595
Points:1,301,845
Joined:Mar 2011
Message Posted: Jan 25, 2013 11:33:34 AM

How unique of the fracking Frackers. Keep those faucets glowing.
Profile Pic
VomVom
Champion Author Calgary

Posts:3,952
Points:2,159,935
Joined:May 2007
Message Posted: Jan 25, 2013 11:19:55 AM

PEI, all oil and gas reservoirs are rocks or sandstones. There is no such thing as large puddles of oil or gas in the ground. The rock contains small void spaces or pores. The porosity of a reservoir describes the pore volume as a percentage of the total reservoir volume. The pores are where the oil and gas reside. The pores are connected by small channels that allow the oil and gas to flow. The permeability of a reservoir describes how easily the oil and gas will flow.

Shale reservoirs are deep; 1 to 2 miles deep. Some are as much as 3 miles deep. After millions of years of compression from the overburden, shale rocks are tightly compressed resulting in low porosity and permeability compared to shallow reservoirs. That's why for millions of years, the oil & gas are trapped in the shale deep below and unable to escape. With the latest drilling and completions technologies, the oil and gas are released.
Profile Pic
knutzAL
Champion Author Alabama

Posts:2,248
Points:373,880
Joined:Feb 2012
Message Posted: Jan 25, 2013 10:50:19 AM

"an industrial renaissance"....................and just where the hell is this happening? It ain't in my backyard for sure.
Profile Pic
cdrrod
Champion Author Wisconsin

Posts:6,753
Points:1,430,710
Joined:Feb 2006
Message Posted: Jan 25, 2013 10:15:00 AM

Fracking = groundwater pollution! Can you export the water, too?
Profile Pic
orphancarguyPE
Champion Author PEI

Posts:6,564
Points:1,392,360
Joined:Jan 2011
Message Posted: Jan 25, 2013 10:10:04 AM

I have long seriously doubted--long before facts started tumbling out-- that there was going to be all that much natural gas to export in the long term, if it was going to be coming from fracking. At least, at cheap prices that compete with places like Algeria and the mideast where the natural gas is coming from conventional wells.

Reality just hasn't caught up yet to all the hype and hope, and 'creative accounting' going on.

It all comes back to the source--from rock, not from a already sorted large reservoir. Expensive to drill. Even more expensive when you realize that each well does not last long at all, and you in effect have to re-drill within about a year or so just to keep production up. So, not $2 a million BTUs, but $6.50-$7.50 at Henry Hub--and now $8.00 is becoming the new figure. That is far above the assumed $4 break even price, and even further above the current price of $3.40.

The 'export myth' also conveniently overlooks the real delivered price. In real life, the price tends to double between 'here' and 'there'. So, $8 = $16 delivered. It costs a lot in money and energy terms both to liquify natgas for overseas delivery. At that price, it becomes a lot less attractive for export purposes. Then, that is only the future breakeven price, not 'make loads of money' price.

No, after throwing out the possibility of lucrative exports to ginger up capital markets who are perhaps starting to suspect that natural gas from fracking is a pig in a poke, exports will be taken off the table.

http://www.businessinsider.com/arthur-berman-shale-is-magical-thinking-2013-1
Profile Pic
LostInNY
Champion Author New York

Posts:4,525
Points:1,332,970
Joined:Apr 2011
Message Posted: Jan 25, 2013 9:51:24 AM

Gee, nice to think about benefiting the local customers for once...
Profile Pic
jbhubbell
Rookie Author Alabama

Posts:83
Points:35,105
Joined:Jan 2013
Message Posted: Jan 25, 2013 9:34:52 AM

Its better to be the export than the import country.
Profile Pic
humblepie
Champion Author Toledo

Posts:59,798
Points:3,061,845
Joined:Mar 2006
Message Posted: Jan 25, 2013 9:31:51 AM

how about banning exports period
Profile Pic
MrDeath666
Champion Author Houston

Posts:66,666
Points:752,400
Joined:Sep 2012
Message Posted: Jan 25, 2013 9:31:23 AM

Keeping it here would lower our prices.
Post a reply Back to Topics