Yesterday, the Department of Energy (DOE) announced that it will allow LNG Development Co. (ticker: LLC) to export LNG from a terminal in Warrenton, Oregon, to countries without a Free Trade Agreement. The terminal is the first of its kind to be approved on the West Coast. The terminal is still subject to environmental review and final regulatory approval from
Japan has an intelligent, well-educated citizenry, strong business leaders and dedicated workers who created an industrial juggernaut that has been the envy of the world for decades. But Japan has a problem. With no natural gas and very limited oil reserves of its own, for decades Japan has relied largely on nuclear energy to fuel its industrial output and it
The Jones Act is the nickname for a 94-year-old law entitled the Merchant Marine Act of 1920 that allows only U.S.-made, U.S.-manned, and U.S.-flagged ships to transfer goods or passengers between U.S. ports. Although it was meant to protect domestic U.S. seaborne commerce from foreign competition, in today’s global economy, it has the effect of making shipping oil between U.S. ports,
China National Offshore Oil Company, or CNOOC, announced it has signed a deal worth $1.6 billion to build equipment for the Yamal LNG project in Siberia. The project is currently scheduled to begin in 2017 and annual capacity per LNG train is expected to be 5.5 million tons – all of which has already been signed to contracts. The Yamal
ExxonMobil (ticker: XOM) has submitted a formal application to the Federal Energy Regulatory Commission to construct an LNG plant at its Golden Pass facility in Sabine Pass, Texas. The proposal, officially submitted on July 9, 2014, is part of a joint venture with Qatar Petroleum International and the pre-filing process began in May 2013. A final investment decision between the
Hawaii has a long list of issues whirling around its expensive energy situation. It stems from the fact that Hawaii is home to the U.S.’s most expensive electricity. Since the island state has no reserves of native fossil fuels that it can extract in order to fuel its electricity generation or to refine into ground transportation and jet fuel, it
Energy Entrepreneur T. Boone Pickens revisited CNBC on Monday, reiterating his call for natural gas as widespread transportation fuel. Pickens told CNBC that energy independence would come much faster if the country’s over-the-road truck fleet were converted to natural gas from diesel. “We’re down to 4 million barrels a day of OPEC oil [from 7 million] … and we can
According to govtrack.us, U.S. Representative Cory Gardner passed his H.R. 6 bill, also known as the Domestic Prosperity and Global Freedom Act, through the House on June 25, 2014. The bill passed on a count of 266-150, with 46 Democrats voting in favor of the bill. The first draft of H.R. 6 was designed to allow the Department of Energy
Natural gas-powered trucks gaining popularity with over-the-road freight haulers When you take the family out for the summer road trip, that 18-wheeler you are about to pass might be a Kenworth T680 road tractor with a concealed bank of compressed natural gas (CNG) tanks and a Cummins Westport natural gas engine. After nine decades of truck manufacturing, Kenworth Truck Company,
ExxonMobil (ticker: XOM) is the largest publicly traded international oil and gas company, with an estimated 25.2 billion BOE of reserves in its 2013 year-end report. The company has a market cap of approximately $441 billion and is the world’s largest refiner and marketer of petroleum products. ExxonMobil’s stock price opened at $104.25 per share on June 24, 2014 – a company
With its 55 nuclear reactors currently offline in answer to the devastating earthquake and tsunami it suffered in March 2011, Japan has been forced to import more expensive alternative fuels to replace the homegrown nuclear-fueled electrical generation capacity which previously made up between a quarter and a third of the country’s electrical output and helped it achieve energy independence in
Sempra Energy (ticker: SRE) has received approval from the Federal Energy Regulatory Commission (FERC) to build the second liquefied natural gas (LNG) export plant in the United States, according to a company press release on June 19, 2014. The plant will be located in Hackberry, Louisiana and will have a capacity of 1.7 Bcfe/d. Construction is scheduled to begin in
