Asian liquefied natural gas prices are expected to fall by up to 30 percent in 2015, according to a survey of analysts and consultants, as the market enters a period of oversupply and the impact of lower oil prices kicks in.
Following OPEC's decision at the end of November to maintain production at its current level, the Brent spot price of oil closed at $70.02 per barrel, down 39 percent from its closing price of $115.19 on June 19, 2014. Similarly, the WTI spot price fell by 39 percent over the same period, closing at $66.15 at the end of November. What's next? Will the price of oil continue to fall, and if so, how far? Will the price of oil level out? Or will it rebound?
Stolt-Nielsen Gas (SNG), SunLNG Holding (SunLNG) and LNGaz have teamed up to provide natural gas to remote mining operations and other industrial customers in northeast Canada at a lower cost than diesel and residual fuel oil, which are the primary energy sources today.
Logistics operations driven by the shale energy boom employed 32,000 workers in 2012, a figure which is expected to grow by over 26,000 jobs, or 82 percent, to more than 58,000 jobs in 2025.
For building products manufacturer Owens Corning Corp., whose annual transportation fuel bill hits about $100m, $1.1m in savings over the last year or so may seem like a drop in the bucket. Unless, that is, the bucket is filled with found money.
The U.S. domestic energy sector, for both oil and natural gas, is on the rebound. Brent Hudspeth, senior director of consulting with Transplace, talks about the pressures and requirements that the new trend is placing on transportation networks.