May 17, 2013 |
The Energy Department gave a terminal near Freeport, Tex., permission Friday to ship liquefied natural gas to Japan, providing a new outlet for rising U.S. production of shale gas despite qualms of environmentalists and many domestic manufacturers. The permit marks another step in the sudden reversal of fortune in the natural gas business. Less than five years ago, anticipating a worsening shortfall in domestic supplies of natural gas, the Freeport terminal on Quintana Island began operations as an import facility.
September 12, 2012 |
Staggering under high debt, Chesapeake Energy said Wednesday that it would sell $6.9 billion of gas fields and pipelines — another step in shrinking the company whose brash chief executive had made it a leader in the country's shale gas revolution. A combination of low natural gas prices and excessive borrowing has forced Chesapeake Energy chief executive Aubrey K. McClendon to move more of its focus away from gas and to sell off much of the vast holdings that had at one point...
April 30, 2013 |
BEIJING — In a remote corner of Sichuan with lush, terraced hillsides, oil exploration teams have been scaling cliffs to lay seismic charges and struggling to move heavy equipment along winding mountain roads. That is where China hopes to find vast stores of natural gas trapped in shale rock. The U.S. Energy Information Administration has estimated that China's technically recoverable shale gas resources could be 50 percent bigger than those in the United States, where shale has transformed the energy sector . ...
December 23, 2012 |
L et's not smother the shale-gas boom. It is the crown jewel of the disappointing economic recovery. Why tamper with success? Yet, there are those who argue that benefits of shale gas could be maximized if we restricted gas exports, mainly as liquefied natural gas (LNG). This would, it's argued, keep prices low for U.S. consumers and manufacturers, contributing powerfully to the revival of American industry. Sounds convincing. It isn't. Limiting LNG exports might initially cut prices, but the long-run consequences...
March 3, 2012 |
The help-wanted sign is out in Canton, Ohio, for Chesapeake Energy. The company that has led the charge in shale gas drilling is looking for truck drivers with licenses for hazardous materials, a purchasing coordinator for oil field equipment, a pipeline technician, a field safety coordinator, administrative assistants, troubleshooting electricians, a tax analyst and more. Chesapeake is mobilizing for a massive drilling and development campaign in the state. The company has spent $2.2 billion and amassed about...
November 14, 2012 |
The shale gas revolution is firing up an old-fashioned American industrial revival, breathing life into businesses such as petrochemicals and glass, steel and toys. Consider the rising fortunes of Ascension Parish, La. Methanex Corp. , which closed its last U.S. chemical plant in 1999, is spending more than half a billion dollars to dismantle a methanol plant in Chile and move it to the parish. Nearby, a petrochemical company, Williams , is spending $400 million to expand an...