Four counties in North Dakota produce about 10% of the amount of crude oil that the entire country of Russia produces. One million bbsl for the former; 11 million bbls for the latter.
And, oh, by the way, it's only a small area in those four counties -- we're talking maybe 75 miles x 75 miles. It is staggering. And I'm probably exaggerating. But not by much.
LNG: staggering. For the week ending March 1, 2017,
a dynamic link -- US liquefaction capacity keeps growing. This is really quite staggering. See below.
Dow Futures: now turn green; WTI up slightly; still well below $53.
Who wudda thought? Canada's GDP doubled America's. No wonder Trump thinks we can do better.
Canada’s indefatigable households and a sharp drop in imports kept
the country’s economy growing at a 2.6 percent annualized pace in the
final quarter of 2016, helping offset what looks to be a deepening slump
in business investment.
Statistics Canada also raised its third-quarter growth estimate to
3.8 percent, from 3.5 percent, showing the nation’s economy had its best
half-year performance since the final six months of 2013, or before the
collapse of oil prices.
The confirmation that Canada is emerging from the commodity slump
should come as a relief to policy makers who struggled to cope with a
near-stagnant economy, as the nation dealt with the impact of an oil
price shock and faltering export sector.
Boeing cutting 1,800 jobs in Seattle area? Heard it on
Fox Business News.
****************************
Liquefaction In The News
Updates
March 5, 2017:
Kinder Morgan sells 49% stake in Elba Island LNG, Savannah, Georgia.
- looks like an old-fashioned real-estate "flip"
- buyer: EIG Global Energy Partners; US offices in Houston and Washington, DC
- $385 million in cash up front
- ELC will own 10 liquefaction units and other ancillary equipment
- KMI's Southern LNG Company LLC owns the Elba Island terminal
- project to cost about $1.3 billion; construction to begin November 1, 2017
- KMI has already owned 51% of the project when it acquired the remaining 49% from Shell, summer, 2015
Original Post
From the link above:
Elba Island LNG, Georgia, USA, one of the six U.S. liquefied natural gas (LNG) export facilities currently under construction ... to begin
installation of liquefaction units at its project site by March 10.
The
project will be using a new technology, developed by Shell, called Movable Modular Liquefaction System.
It will consist of ten small-scale liquefaction units (called trains),
constructed in two phases. Each train has a capacity to liquefy
approximately 33 million cubic feet per day (MMcf/d), for a total
project capacity of 0.35 billion cubic feet per day (Bcf/d).
Elba Island LNG is the latest of six U.S. LNG
export facilities to start construction in the last four years in the lower 48 states.
The Elba Island export facility is being
developed at the site of the existing regasification facility and will
therefore benefit from extensive existing infrastructure, including
pipelines, storage tanks, and two berths for the docking of vessels
Elba Island LNG is being developed by Kinder Morgan, and will operate as a tolling facility,
with the full off-take volume contracted by Royal Dutch Shell under a
20-year contract. As a tolling customer, Shell will be responsible for
procuring natural gas feedstock for the facility, and will pay a flat
tolling liquefaction fee to the facility owners
Kinder Morgan and EIG Global Energy Partners (which own 51% and 49% of
the project, respectively).
The other five liquefaction projects in the United States are in
various construction stages.
Sabine Pass LNG, which began operations in
February of last year, currently has three fully operational trains and
two more trains under construction. The fourth train at Sabine Pass is
expected to be in service by summer 2017 and the fifth train by the
third quarter of 2019. The sixth train at Sabine Pass has been fully
authorized, but is not yet under construction.
Cove Point LNG, like Elba
Island, is also a brownfield facility developed at the site of the
existing regasification terminal in Maryland. Cove Point is expected to
come online by the end of this year.
Three other liquefaction
projects—Freeport, Cameron, and Corpus Christi—have multiple trains
under construction.
Liquefaction capacity from all projects currently
under construction is projected to expand by 1.4 Bcf/d in 2017, 1.9
Bcf/d in 2018, and 3.8 Bcf/d in 2019.
Once all of these liquefaction
projects become operational, the United States is projected to have the
third largest liquefaction capacity in the world at 9.4 Bcf/d, after
Australia and Qatar.
