Articles Tagged "offshore"

Natural Gas Reserves Offshore Lebanon Total 12 Trillion Cubic Feet

Reuters reported that seismic surveys of the water off the southern coast of Lebanon indicate that the area contains 12 trillion cubic feet of natural gas. The country's government appears confident that exploration plans will move forward smoothly, but noted that the fact that the reserves are underwater will make extraction difficult.

RPS submits natural gas plan before system shifts

Consultancy RPS falls on the belief that planners will go ahead with gas storage developments before a new system takes in. The firm has submitted an application for a £300 million expansion of its offshore natural gas storage facility in the Irish Sea on behalf of Centrica. RPS director Geoff Bullock said: While clear national [...]

New offshore energy to increase US govt revenue

As per a new study, Oil and natural gas development in newly opened offshore areas will result in $1.7 trillion in federal tax revenue and around $600 million in state and local taxes throughout the life span of the new fields. For full story, click here

StatoilHydro finds gas in Barents Sea

Norwegian oil company StatoilHydro ASA announced that it has found natural gas near its Snoehvit offshore field in the Barents Sea. Geir Richardsen, head of exploration activities in the far north for StatoilHydro, said: It is, of course, promising that we once more have proven gas in the Barents Sea. We need time to make an evaluation [...]

South Parse: CNG is what I see

By Duncan Sutherland – Exclusive to Gas Investing News Market News: The American Energy Information Administration (the U.S. Government’s register of official energy statistic) is still forecasting an increase in home heating costs over the winter. The EIA did note that its figures were subject to change as new information about the extent of the [...]

South Parse: August 13

By Duncan Sutherland – Exclusive to Gas Investing News Bloomberg reported that NYMEX natural gas futures have lowered to their lowest in six months. The huge decline in the past month is comprised of multiple factors. First, the increased output and stockpiles have reassured traders of supply security. Second, the commodity drawdown has lured hedging [...]

ONGC to set up offshore supply base

India’s Oil & Natural Gas Corp. (ONGC) plans to establish an integrated offshore supply base and onshore terminal on India’s east coast to speed up production from the Krishna-Godavari (KG) basin. For full story, click here