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7/28/2019 M. Moore - Unconventional Fuels and Implications for CCUS Deployment
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Unconven(onalFuelsandImplica(onsforCCUSDeployment
MichaelE.Moore
Execu/veDirectorNACCSA
VicePresidentEnergyCommodi/esandAdvisoryServices
FearnOilInc.
June24th2013Birmingham,AL
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CoveredTopics
USOilandGasShaleResources&Infrastructure ChangingUSEnergyInfrastructure CrudeOilShippingbyRail OhioShaleInvestments USLNGNatgasExports Coal USRenewables CCUSCCSDevelopments OtherInter-relatedEnergyAc/vi/es
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USOil&GasResourcesandInfrastructure
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USConven/onalOilandGasReservoirs
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USShalePlays-Unconven/onalOil&Gas
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480,000MilesofNatgas-OilandHL
Pipelines-constantlyexpanding
6
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USNatgasProduc/onEIA4-30-13h$p://www.eia.gov/oil_gas/natural_gas/data_publicaons/eia914/eia914.html
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USNatgasProduc/onShaleEIAMay222013h$p://www.eia.gov/naturalgas/weekly/
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USOilProduc/on-Regional
EIAApril2013shorttermenergyoutlookforecastsUScrudeoilproducontoincreasefromanaverageof
6.5MMb/din2012to7.9MMb/din2014 h$p://www.eia.gov/forecasts/steo/archives/Apr13.pdf
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BakkenOilProduc/onSurgestoNewHighh$p://www.upstreamonline.com/live/arcle1330011.ece
June14th-2013OilproduconfromNorthDakota'sBakkenshalehitanewhighinAprilandcouldexceedthestate'sforecastof850,000barrelsperdaybytheendoftheyear,stateregulatorssaidonFriday.
NorthDakota'sDepartmentofMineralResourcessaidApriloutputrose1.3%,orjustover10,000bpdfromamonthearlier,to793,000bpddespiteinclementweathercondions.Outputwasaround33%higherthanayearearlier.
Naonwide,oilproduconhit7.37millionbpdintheweekthatended3May-themostsinceFebruary1992,accordingtotheEnergyInformaonAdministraon.Thosenumbersslippedbyabout76,000bpdlastweekto7.22millionbpd,Bloombergreported.
About75%ofBakkenoille\NorthDakotaontrainsinApril,upfrom71%inMarch,thestatePipelineAuthoritysaid.About17%wasshippedoutviapipeline,downfrom20%inMarch
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TexasRapidChangeinOilProduc/on
Source:TinteraACUSBucharestPresenta/on3-12-13Source:BloombergMay28th2013h[p:www.bloomberg.comnews2013-05-28eagle-ford-oil-output-rises-77-to-more-than-500-000-barrels-day.html
OilproduconinTexassEagleFordshaleformaonrosemoreThan77%inMarchfromayearearlier,topping500,000barrelsa
dayandposngarecord. Theninegeographicfieldsthat
makeupthemajorityofEagleFordyielded529,874barrelsofcrudeaday,accordingtopreliminarydatareleasedbytheTexasRailroadCommission.The
fieldsproduced298,266barrelsdailyinMarch2012.
TheTexasproduced2.3millionbarrelsadayinFebruary,thehighestmonthlylevelsinceApril1986
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PlannedPipelineCapacitytoDe-Bo[leneck
Cushingh$p://www.greencarcongress.com/2013/02/eiapipelines-20130214.html
Overthepastthreeyears,815,000bbl/dofnewpipelinecapacitydeliveringcrudeoiltoCushingwasadded.Overthesameperiod,only400,000bbl/dofnewpipelinetake-awaycapacitywasadded.
Duringthenexttwoyearsanaddional1,190,000bbl/dofpipelinecapacityfordeliveringcrudeoilfromCanadaandthemidconnenttoCushingisplanned,butthisisbalancedby1,150,000bbl/dofplannedpipelinecapacityaddionstodelivercrudeoilfromCushingtotheGulfCoast.
About830,000bbl/dofnewpipelinecapacityisplannedtomovecrudeoildirectlyfromthePermianBasintotheGulfCoast,avoidingthecongestedMidwest.Ifthiscapacityisconstructedandfullyulized,waterborneimportstotheUSGulfCoast,parcularlyoflightsweetcrudeoil,coulddropsignificantly,theEIAsaid.
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EuropeanCompanyStakesinU.S.
ShalePlaysh$p://www.cleanskies.org/wp-content/uploads/2013/02/2.11.2013_EuropeReport_FINAL-web.pdf
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ChangingUSEnergyInfrastructure
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NewGasFlowDynamics-ShaleGas
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h$p://www.ferc.gov/industries/gas/indus-act/pipelines/horizon-pipe.pdf
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GasPipe ineConverte toCarry
CrudeOilfromIllinoistoGulfCoasth$p://www.ogj.com/arcles/2013/02/enbridge--energy-transfer-to-convert-trunkline-segment-to-
crude-.html?cmpid=EnlPipelineFebruary252013
EnbridgeInc.andEnergyTransferwilljointlydevelopaprojecttomove420,000-660,000b/dofcrudeoilbypipelinefromPatoka,Ill.,toSt.James,La.,andtheeasternGulfCoastrefiningmarketbyconverngcertainsegmentsofTrunklineGasCo.LLCssystemtoliquidsservice.TrunklineisasubsidiaryofEnergyTransferPartnersLPandEnergyTransferEquityLP.
Theconverted30-in.ODcrudeoilpipelinewouldenterserviceby2015,pendingUSFederalEnergyRegulatoryCommissionapprovalofTrunklinesJuly2012requesttoabandoncertaindesignatedsegmentsofpipelinefromnaturalgastransmissionservice.Crudeslateandthelevelofsubscriponsreceivedinapendingopenseasonwilldeterminethepipelinescapacity.
Oncecompleted,theprojectwillspanmorethan700miles,includinganewlateralfromnearBoyce,La.,toSt.James.TheSt.JameshubwillprovideaccesstorefineriesintheeasternGulfCoast,aswellasdockaccessforwater-borneshipments.
EnbridgeandEnergyTransferwouldeachown50%ofthejointventure.Enbridgesparcipaonintheventureissubjecttoaminimumlevelofcommitmentsbeingobtainedintheopenseason,andoncompleonofduediligence.
CrudeoilreachesthePatokahubfrombothwesternCanadaproduc/onandfromtheBakkenplayinNorthDakotathroughavarietyofexisngpipelines.EnbridgesSouthernAccessExtensionpipelinewillalsodeliver300,000b/dtoPatokastarnginearly2015(OGJOnline,Dec.14,2012).
EnergyTransferdescribestheeasternGulfCoastasahighlya$racvemarketforCanadianandBakkencrude,butnotcurrentlyaccessiblebypipeline.TheTrunklineconversionwouldcreatethefirstpipelinetransportaonoponformovingcrudeoiltotheeasternGulfCoastfromtheUSMidwest.
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CrudeOilShippingbyRail
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CrudeOilShipmentsbyRailJumph$p://www.progressiverailroading.com/rail_industry_trends/arcle/Shales-in-the-West-well-beyond-the-Bakken-drive-crude-oil-
traffic-for-many-railroads--36140
May2013--BNSFnowmovesaboutsevenoreightunittrainsperdayoutoftheBakken,carryingabout600,000barrelsofoil.Anddailyvolumeisprojectedtoconnueclimbing,to700,000barrelsbyyear'sendandto1millionbarrelsbysomepointin2014.
ThedifferencecomparedwithseveralyearsagoisthatBakkencrudenowisbeingtransportedtomoredesnaons,saysBNSFVicePresidentofIndustrialProductsSalesJohnMiller.BNSFexpectstomovecrudetomorethan50desnaonsby2014'send.
"FirstitwenttoCushingandthenSt.James,[Louisiana],andnowitheadsinalldirecons,includingtheEastCoast,"saysMiller."Ittellsthestoryofrail'sflexibility."
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CrudeOilbyRail-BakkenExample
BakkentoWA BakkentoNF,CA BakkentoUSGC BakkentoNJ BakkentoPA BakkentoUSGC
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USExportedMoreRefinedProducts
thanitImported-NotSeenSince1949 Forthefirstmesince1949,theUnitedStates
exportedmoregasoline,heangoilanddieselfuellastyearthanitimported,theEnergyDepartmentreportedtoday.
BloombergwritesthattooffsetweakU.S.demand,refinersexported439,000barrelsadaymorethanwereimportedtheyearbefore.In2010,dailyimportsaveraged269,000barrels,accordingtothePetroleumSupplyMonthlyreport.
Importsofcrudeoilandrelatedproductsfell11%lastyear,reachingalevelnotseensince1995. h$p://content.usatoday.com/communies/
ondeadline/post/2012/02/us-exported-more-gasoline-than-imported-last-year/1
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OhioShaleInvestments
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IHSOhioU/caShaleReportHTTP://UNCONVENTIONALENERGY.BLOGS.IHS.COM/2013/02/12/UTICA-SHALE-PROMISES-TO-
MAKE-OHIO-AN-ENERGY-POWERHOUSE
2012unconvenonaloil/gasacvitycontributedvalue-addedeconomicacvityof4.1billion
IHSforecaststhatthiscontribuonwillgrowto35.2billionby2035.
2012Ucashalenewjobs-39,000. 2020willincreaseto144,000 2035to275,000 2012Ohiosoperangshale/horizontalrigcountwas9rigs AsofFeb2013549permitsissued249wellsdrilled 2013shale/horizontaloperangrigcount25
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OhioEconomicImpactfromShaleSource:ODNRpresentaon3/12h$p://www.dnr.state.oh.us/portals/10/energy/Uca/Uca-
PointPleasantPlay.pdf
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InvestmentsinOhioU/caShaleh$ps://www.mecseminars.com/sites/default/files/presentaon-files/Manufacturing
%20Renaissance%20in%20Ohio%20Powered%20by%20Oil%20and%20Gas%20from%20Shale.pdf
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MidstreamCommitmentsinOhioU/ca
Shale
h$ps://www.mecseminars.com/sites/default/files/presentaon-files/Manufacturing%20Renaissance%20in%20Ohio%20Powered%20by%20Oil%20and%20Gas%20from%20Shale.pdf
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USLNGNatgasExports
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GlobalLNGMarkerPrices-Daily,Feb.2,2009
July31,2012Source:USLNGExports:TruthandConsequencebyKennethB.MedlockIIIPH.D-JAMESA.BAKERIIIINSTITUTEFOR
PUBLICPOLICYRICEUNIVERSITYAug12-2012Pg.17
Sources:Pla$s,USEnergyInformaonAdministraon,authorscalculaon USHenryHub(HH) (NBP)theUKNa/onalBalancingPoint (JKM)thePla$sJapan/KoreaMarker AndarepresentavecrudeindexedLNGpricefrom2009tothepresent
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h$p://ferc.gov/industries/gas/indus-act/lng/lng-proposed-potenal.pdf
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USNatgasExportPointsh$p://www.eia.gov/pub/oil_gas/natural_gas/analysis_publicaons/ngpipeline/impex_map.html
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ProposedNatgasPipelinesforLNG
ExportfromAlaskah$p://www.arccgas.gov/alaska-natural-gas-pipeline-projects-guide-and-maps
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LNGExports
ExpeditedLNGforAmericanAlliesActof2013
SenatorBarrassoand
CongressmanTurner
introducedFeb6th
2013theExpeditedLNGforAmerican
AlliesActof2013(HR580,S
192)thatwouldreduce
barriersforLNGexportsto
NATOalliesandJapan,giving
themthesamepreferenal
treatmentascountriesthat
havefree-tradeagreements.
DOEApprovesnon-FTALNGExports
Cheniere FreeportLNG
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Coal
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USCoalResourcesSource:h$p://pubs.usgs.gov/of/1996/of96-092/Comp/main.gif
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FuelSwitchingImpactsandCoalExportsh[p:www.aar.org~mediaaarBackground-PapersRailroads-and-Coal.ashx
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Coalvs.NatgasforGenera/on-Vola/le
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CoalExportTerminalsh[p:www.pla[s.comnewsfeature2012coaltransportmap
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ChinaCoalConsump/onvs.theWorld
Combined
consecuveyear,accordingtonewlyreleasedinternaonaldata.China'scoalusegrewby325milliontonsin2011,accounngfor87%ofthe374milliontonglobalincreaseincoaluse.Ofthe2.9billiontonsofglobalcoaldemand
growthsince2000,Chinaaccountedfor2.3billiontons(82%).Chinanowaccountsfor47%ofglobalcoalconsumponalmostasmuchastheenrerestoftheworldcombined.
RobustcoaldemandgrowthinChinaistheresultofamorethan200%increaseinChineseelectricgeneraonsince2000,fueledprimarilybycoal.China'scoaldemandgrowthaveraged9%peryearfrom2000to2010,morethandoubletheglobalgrowthrateof4%andsignificantlyhigherthanglobalgrowthexcludingChina,which
h$p://www.eia.gov/todayinenergy/detail.cfm?id=9751&src=email
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USCoaltoEuropeDisplacesNatgas-
GHGEmissionsGoUph$p://www.bloomberg.com/news/2012-10-31/gas-golden-age-darkens-in-europe-on-u-s-coal-energy-
markets.html
Globalgasconsumponmayrise19percentby2017from2010levelsasdemandsurgesinAsiaandtheU.S.whileEuropesusagedrops1.6percent,accordingtotheInternaonalEnergyAgency.Increasingcoal-firedgeneraoninEuropehascutgasdemandby3billioncubicfeetaday,accordingtoSanfordC.Bernstein&Co.,about7percentofconsumpon.TheIEAlastyearpredictedagoldenageforthefuelwithnewexportsfromAmericatoAustralia.
GasfordeliverynextmonthontheNetherlandsTitleTransferFacility,themainlandEuropeanbenchmark,tradedat27.50euros(35.65)amegawa$-houryesterday,morethandoublethepricefouryearsago,accordingtobrokerdatacompiledbyBloomberg.Thatsequivalentto10.43permillionBrishthermalunitsandcompareswith3.69permillionBtuforfront-monthfuelintheU.S.,whichfell43percentovertheperiod.
Germanpowerstaonsmakealossof11.25eurosamegawa$-hourfromburninggas,accordingtoBloombergcalculaonsoftheso-calledclean-sparkspread,whichtakesintoaccountelectricity,fuelandcarbonpricesfornextmonth.
TheequivalentmeasurewhenburningEuropeancoalfordeliverytoAmsterdam,Ro$erdamandAntwerpshowsaprofitof14.22eurosamegawa$-hour.U.S.CentralAppalachianCoalFuturesforthenextmonthtradedat59.43ashorttononOct.29,excludingshipping,versus84.85ametricton(93.53ashortton)forEuropeancoal.
Burningcoalhascontributedtoa10percentincreaseinEUcarbon-dioxideoutputthisyearthroughSeptember,accordingtoBloombergNewEnergyFinance.First-quarteremissionsfrompowergeneraonintheU.S.droppedtothelowestsince1992becauseof
increasedgasusageandamilder-than-normalwinter,theEIAsaidinanAug.1report.
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EuropeGasCarnageShownbyEON
Closing3-Year-OldPlanth$p://www.bloomberg.com/news/2013-03-12/europe-gas-carnage-shown-by-eon-closing-3-year-old-plant-
energy.html EONSEsIrsching-5inBavarialastyearoperatedlessthan25percentoftheme
asslumpingpowerpricesmadeburningnaturalgasunprofitablebyrecordmargins.AsEuropesweakeconomyholdsbackelectricitydemand,cheapercoal,requirementstobuyrenewableenergyandthecollapsingcostofcarbonpermitsareundercunggas-firedplants.
Thepa$ernisrepeatedthroughoutEuropeasuliesincludingFrancesGDFSuezSAandCentricaPlcmothballgasplants.Theimpactisbothenvironmentalandcommercial.Switchingtocoalincreasesemissions,whileitlowersprofitforgasplants,whichgeneratealmostaquarterofEuropeanpower,andshrinksthemarketforsuppliersledbyOAOGazprom.(GAZP)
Gas-firedplantsarestoppedthreedaysoutoffour,GerardMestrallet,chiefexecuveofficerofGDFSuez,Francesformergasmonopoly,saidatabriefingonFeb.28.Thethermalindustryisincrisis.Thereisovercapacity.
Thedifferencebetweenthecostoffuelandthepricepaidforthepowergeneratedreachedarecordlowtoday.Theso-calledsparkspreadforthemonthaheadfelltoaslowasminus18.35eurosamegawa$-hour(23.87).GasplantsarealsounprofitableinFrance,theNetherlands,SpainandtheCzechRepublic,accordingtodatacompiledbyBloomberg.IntheU.K.,theyrebarelybreakingeven.
Atthesameme,sparkspreadsforcoalplantsareprofitableineveryEuropeanmarkettrackedbyBloombergaspricesforthefueldrop.
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USRenewables
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USSolarProjectsh$p://www.seia.org/map/majormap.php
Thereareover490majorsolarprojectscurrentlyinthedatabase,represenngover32GWofcapacity.
Thelistshowsthatthereisover2.4GWofmajorsolarprojectscurrentlyopera/ng.
Thereremainsanenormousamountofcapacityinthepipeline,withover29GWofPVandCSPprojectseitherunderconstruc/onorunderdevelopment.
UndertheObamaAdministraon,16projectshavebeenpermi$edonfederallands,whichwillprovide6,058MWofgenerangcapacity.
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h$p://www.windpoweringamerica.gov/wind_installed_capacity.asp
AsofJanuary30th2013Installed
CapacityBreaks60,000mwh$p://www.awea.org/newsroom/pressreleases/officialyearendnumbersreleased.cfm
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USPowerGridSource:h$p://en.wikipedia.org/wiki/File:UnitedStatesPowerGrid.jpg
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CO2,Hydrocarbons,Renewables&Electric
Transmission
AnINGAAFoundaonstudyfocusedonthepipelineinfrastructurerequirementsforCCS.Itforecaststhatbetween
15,000and66,000milesofpipelinewillbeneededintheU.S.by
2030,dependingonhowmuchCO2couldbesequestered,and
theuseofCO2forenhancedoilrecovery(EOR). FutureCO2pipelineswilllikelycompetewithnaturalgas
pipelines,NGLs,crudeoilandrefinedproductsforlaborand
materials.
Alsothesingofrenewables(solar/wind)andrelatedtransmissionlinescouldcompetewithCO2,crudeoilandnatural
gasinfrastructureforrights-of-way,especiallyinhighlypopulated
areas.
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CCUSDevelopments
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USCCUSandCCSProjects
CCUS Southern/Kemper-MSUnderconstrucon Summit/TCEP-TXDevelopment AirProducts-TXOperang LeucadiaLakeCharlesCleanEnergyPlantLADevelopment
LeucadiaMississippiGasificaonProjectMSDevelopment NRG-TXDevelopment HECA-CADevelopment DKRW-WYDevelopment Peabody-GreatPoint-TBNPlanning LeucadiaIndianaGasificaon-INPlanning? BothTenaskaplantsTaylorvilleIllandTrailblazerTXcancelledJune21,2013 CCS Southern/PlantBarry-ALOperang ADM-ILOperang FutureGen-ILDevelopment
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CurrentCO2EOROpera/ons
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OtherInter-relatedEnergyAc/vi/es
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GTLAdvancesDuetoNatgasSupply
Price SASOL-LA&IN Shell-LA EmberClear-MS EmberClear-PA BP-AK Calumet-PA Am.GTL-PA Methanex-LA SouthMeth.-LA
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ShaleGasLiquidsDrivePetchemGrowth
h$p://www.argusmedia.com/~/media/Files/PDFs/Mkng/Argus%20NGL%20Shale%20Gas%20Special%20Report.ashx
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PricetoPolluteHitsRecordHighh$p://www.houstonchronicle.com/news/arcle/Price-to-pollute-hits-record-high-4608417.php
June18thThepricetopolluteisatarecordhigh,withtradersrecentlypaying270,000fortherighttoemit1tonofvolaleorganiccompounds,akeyingredientinozone,orsmog.That'supfrom4,500pertoninJanuary2011.
TherecordsaleinvolvedthecityofHouston,whichhad14.3creditsforvolaleorganiccompoundstosella\erupgradingequipmentatitsAlmedaSimssewagetreatmentplant.Thecityalsosoldcreditsfor12.4tonsofnitrogenoxides,anotheringredientinozone,for151,000pertontoAmerexBrokers,aSugarLand-basedfirm.
Thesoaringpriceofsmogcredits-eachequalto1tonofpolluon-meansthemarketisdoingitsjob:proddingindustrytoreduceemissions.Theallowanceshavebecomesovaluablethatforthefirstmesincethesystembegannearlyadecadeago,companiesarelookingforwaystocutemissionsinordertoselltheirexcesscreditsasabo$om-linebooster,traderssaid.
"Asthemarketpricehassignificantlyincreasedoverthepasttwoyears,ithassentsignalstocompaniestomakereduconsinemissions"ofvolaleorganiccompounds,saidMikeTaylor,whomanagestheemissionstradingdeskatHouston-basedElementMarkets.ThebrokeragefirmassistedthecityofHoustonintherecordsale,whichwasreportedlastweektoTexasregulators.
Themarketforthesestate-issuedallowances,officiallycalledEmissionReduconCredits,appearstobedrivenbychemicalmakers,whoarelookingtoexpandintheHoustonareaa\eryearsinthedoldrums.
Despitethebullmarket,tradersareworriedaboutliquidity-theeasewithwhichtheallowancescanbetraded.TherearesofewavailablecreditsingreaterHoustonthatNRGEnergyhasaskedregulatorstoletitbuysomefromtheDallas-FortWorthareatocanceloutemissionsofvolaleorganiccompoundsatitscoal-firedpowerplantinFortBendCounty.Thestateenvironmentalqualitycommission,however,hasnotallowedtradesthatarenotinthesameregion.
ThemarketrunbeganasChevronPhillipsChemicalCo.,CelaneseCorp.andotherchemicalmakersstartedmakingplanstoexpandbecauseofcheapandabundantnaturalgas
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PanamaCanalExpansionandIts
ImpactItcouldbethesinglebiggestgamechangerfortheexportofUSenergyandrelatedcommodiestotheFarEast.
LNGExportsfirstexportfacilityonlinein2015 CoalExportsmajorexpansionsofGCterminals
NGLExportslongtermexportcontracts TransportaonFuelsExports-fromforeignandUScrude,GTLand
CTLprojects
CrudeOilExportstalktoopenuplower48restricons PetrochemicalExportsworldscalenewbuildsandexpansion
underwayintheGC
Annualcapacitywillincreasebyabout2,000addionalships. CapacityintermsofTEUwillalmosttriplefrom4,500to12,000. Bulkcapacityindeadweighttonswillmorethandouble.From
52,000to119,000(h$p://people.hofstra.edu/geotrans/eng/ch1en/appl1en/table_panama_new.html)
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WhatthePanamaCanalExpansionMeansto
Shippingh$p://people.hofstra.edu/geotrans/eng/ch1en/appl1en/table_panama_new.html
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Arc/cShippingRoutes
Aug26
th
2012ChinabecamethelatestcountrytonavigatetheNorthernSeaRoutelastweekwhenitsvesselSnowDragonarrivedinIceland.LinkingthePacificOceantotheAtlanc,theNorthernSeaRouteallowsshipstocutdownontravelmefromAsiatoEuropebyedgingthroughtheicywatersbetweennorthRussiaandtheNorthPole.
Unlnow,shipshavebeenforcedtopassbyIndonesia,India,theGulfandfinallythroughthecrowdedSuezCanalwhichsawalmost18,000vesselschugthroughlastyearalonebeforereachingtheMediterranean.
FollowinganortherncourseinsteadwestaboveCanadaoreastaboveRussiacutsthejourneymebyhalf,aspointedoutbyChairmanofNorway-basedTschudiShipping,FelixH.Tschudi,inaninterviewwithJapanesedailyAsahiShimbun.
"Ifacargoshipwithamaximumloadcapacityof40,000tonscanpassthroughtheNorthernSeaRoute,thatwillshortenthejourneyby22daysandcost839,000[670,000euros]lessthangoingthroughtheSuezCanal."Thearclealsonotesthat1,000tonneslessfuelisneededforthenorthernjourney.
AlsoknownastheNortheastPassage,theNorthernSeaRoutehasonlyrecentlybecomeaccessibletolargevesselsduetothemelngoftheArcc.GermanywasthefirstWesternpowertomakethejourneyin2009,andwassoonfollowedbyJapan,Denmark,CanadaandtheUK.
In2011,atotalof37vesselsmadethetrip.Butthisyearsawrecordlevelsofthaw,allowingChinasicebreakeraneasypassage,withthecrewrepornganastonishinglackoficeastheyskirtedtheNorthPole
h$p://www.france24.com/en/
20120826-arcc-melts-
developers-new-shipping-
northern-sea-route-russia-
china-ice-loss
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Arc/cResources
TheU.S.GeologicalSurvey(USGS)hascompletedanassessmentofundiscoveredconvenonaloilandgasresourcesinallareasnorthoftheArccCircle.Usingageologybasedprobabilisc
methodology,theUSGSesmatedtheoccurrenceofundiscoveredoilandgasin33geologicprovincesthoughttobeprospecveforpetroleum.Thesumofthemeanesmatesforeachprovinceindicatesthat90billionbarrelsofoil,1,669trillioncubicfeetofnaturalgas,and44billionbarrelsofnaturalgasliquidsmayremaintobefoundintheArcc,ofwhichapproximately84percentisexpectedtooccurinoffshoreareas.
h$p://pubs.usgs.gov/fs/2008/3049/fs2008-3049.pdf
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Ques/ons&ThankYou!
MichaelE.Moore
VPEnergyCommodi/esandAdvisoryServices FearnOilInc.(adivisionofAstrup-Fearnleys) www.fearnleys.com Execu/veDirector NorthAmericanCarbonCaptureStorageAssocia/on www.naccsa.org
[email protected]:281-759-0245
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NSPS
PresidenttoannouncehisnewclimatechangeiniavesonTuesday-CCSlikelyinthemix
NGOscanfilesincetheEPAmisseditsdeadlinearewaingtoseewhatthePresidentsannouncementwill
looklikeonTuesday ClassIIvs.ClassVIwillbeinthemix NSPSGHGreduconsoncurrentpowergenerators Abundanceofshalegas RenewableFuelStandard Renewablesgengcheaper RCRA
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h$p://www.rrc.state.tx.us/eagleford/EagleFordOilProducon.pdf