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Israel to export only 40% of natural gas finds

Israel is to export only 40 percent of the natural gas it extracts from newly discovered gas fields off its Mediterranean coast, Prime Minister Benjamin Netanyahu said on Wednesday. "The State of Israel will receive 60 percent of the gas produced which will allow it to meet its own needs for the next 25 years," he said in remarks relayed by the country's main radio stations. Last year, an official commission had recommended the government cap the export quota at 53 percent.

Poland may delay launch of nuclear plants: PM

Poland could delay building its first nuclear power plants as natural gas, including shale gas, becomes less costly, the prime minister of the central European heavyweight said Tuesday. With a population of 38 million, Poland uses about 14 billion cubic metres of natural gas a year, of which 60 percent is imported from Russia. Poland relies on coal-fired plants -- fuelled mostly by its own plentiful supplies -- for 90 percent of its electricity and is keen to find alternatives which could help it limit greenhouse gas emissions in line with EU limits.

Shale gas powering US petrochemical revival

The US petrochemical industry, in trouble just a few years ago, is making a spectacular comeback thanks to the boom in shale gas, shaking up the industry worldwide and spreading some discomfort through Asia and Europe. "It's pretty simple, there's just so much feedstock that needs to find a home," Chuck Carr, a petrochemical analyst at IHS, said in Texas, the capital of the US industry. "So everybody's saying: hurry up to build something, because at that natural gas price, it's just pure value."

Playing the shale gas boom - Chart Industries

By Nichola Groom (Reuters) - What a difference a decade makes. Ten years ago, Chart Industries Inc <GTLS.O> was on the verge of bankruptcy after taking on too much debt during a spree of acquisitions that included an equipment maker for storing cryogenic liquids like liquefied natural gas.

Britain group massively hikes shale gas estimate

British exploration company IGas Energy on Monday said it believed it was sitting on a far bigger amount of shale gas than thought, ahead of controversial drilling work to begin this year in northwest England. The findings of IGas data published in a statement revealed a gas volume ranging from 15.1 trillion cubic feet to 172.3 tcf, with the 'most likely' amount standing at 102 tcf. The company's previous estimate last year had put the lowest amount at about 9.0 trillion cubic feet for an area covering 300 square miles (777 square kilometres).

Illinois lawmakers approve nation's toughest fracking regulations, governor expected to sign

SPRINGFIELD, Ill. - Illinois came a giant step closer to approving the nation's strictest regulations for high-volume oil and gas drilling on Friday, as lawmakers approved a measure they hoped would create thousands of jobs in economically depressed areas of southern Illinois. The Senate passed the legislation 52-3, one day after it was overwhelmingly approved in the other chamber. Gov. Pat Quinn promised to sign it, calling the legislation a "shot in the arm for many communities."

U.S. OKs liquefied natural gas exports to Japan, others

The United States said Friday it will allow exports of domestically produced liquefied natural gas to Japan and other countries to which it is not bound by free trade agreements, authorizing a plan to deliver shale and other gases from Texas. Japan hailed the move as it had been asking the United States to lift a ban on LNG exports to meet its energy needs after most of its nuclear reactors were suspended following the 2011 Fukushima nuclear disaster as well as rising prices of energy imports.

Obama admin endorses Texas LNG export project; 2nd project to get Energy Dept. backing

WASHINGTON - The Energy Department on Friday conditionally approved a Texas company's proposal to export liquefied natural gas, only the second such project allowed to move forward amid a production boom that has led to glut of domestic natural gas. The action would allow Freeport LNG Expansion L.P. to export up to 1.4 billion cubic feet of liquefied natural gas per day from its terminal near Freeport, Texas, south of Houston. The DOE said granting such a permit for shipments to countries that do not have free trade agreements with the U.S. was in the public interest.

Company decisions hurt Poland's hopes for shale gas industry

WARSAW, Poland - News that Talisman Energy Inc. and Marathon Oil are pulling out of exploration for shale gas in Poland is a blow to the country's hopes that its deposits of the hydrocarbon will soon cut its dependence on Russian supplies and support the weakening economy.

UK should do more to speed shale gas development - MPs

LONDON (Reuters) - MPs criticised the government on Friday for unnecessarily delaying development of shale gas, saying it should now encourage companies to come up with more accurate estimates of recoverable reserves. The lack of progress over the past two years in exploration and development of UK shale gas is disappointing and needs to speed up, members of the influential cross-party Energy and Climate Change Committee in parliament said in a report.
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