Introduction Energy plays an important role in every country’s economy. Natural gas is the cheapest fuel, relatively cleaner, lower in density as compare to the other fuels, easier to transport and versatile in nature, makes it more attractive for the consumers. Natural gas market will be dominating the world’s economy and politics in the future. According to the world’s energy statistical figures, the current gas reserves in the world is …….. The discoveries of Natural gas in specific areas of the world, high capital intensives, its special market structure and its increasing demands worldwide can turn this market into a ‘Natural Monopoly’, a challenge for the world’s energy and economic future and social welfare. The new form of LNG (Liquefied natural gas) is more attractive, demanding and variable in terms of destinations, as a result the regional markets are becoming more and more connected. The future biggest producers of the Natural gas and their energy giants can monopolise the gas industry in the future. The process of fundamental restructuring of this market has already started in the past decades to unbundle and open up the market to attract private investment in the energy sector. But these deregulations are more favourable for old players of the industry. Recent mergers, acquisitions, regrouping of energy giants are the results of wild competition to win the operating natural gas resources and markets. The Natural gas industry is divided into four sectors, called producers, transportation sector (pipelines), local distribution and marketing, and consumers. Before 1985, the industry was traditional and vertically integrated which supported monopoly in the industry. Distribution companies could not chose pipelin... ... middle of paper ... ...al Exploration and Production and Merge and Acquisition by values and deals are given below in the graph The above scenario clearly explains that all the names in the above Mergers and regroupings are of major oil giants, which are struggling to reshape their business relation internationally to gain more control and access to the natural gas sector. Despite EU rules on third party access and legal/functional unbundling, new entrants often lack effective access to networks, the operators of which are alleged to favour their own affiliates. The above discussion clears the current natural gas (oligopoly) market trend, which predicts the future of gas industry. The governments need to promote more liberalizing in the industry as natural gas will be playing an important role in the World’s future economy. Regulations should be designated by the Country’s governments
Also, industry is the largest consumer of natural gas, accounting for 43 percent of natural gas
...remely expensive. But natural gas is a very clean alternative to oil and gasoline. Is natural gas really worth the cost that it takes to obtain it?
Since the 19th century, gas has gradually become a necessity to mankind. It has been used for lighting our houses, to produce heat, to cook our food and to run our vehicles. As time passed, the price of gas has known many changes in Montreal. By the year of 2008 the price was relatively low, but suddenly became very high in 2014. This year in Montreal, the prices are as low as 3.4 US $/G. When considering the previously mentioned facts, we ask ourselves why the price of gas is low and what are the factors fluctuating its price. The main factor responsible of gas price changes is the cost of oil.
Fuel prices is an area of concern for the motor carrier industry. Fuel prices are at an all-time high, driving the industry to make drastic changes. Individuals in the industry believe that by reducing the demand for fuel is the best way to address the current fuel issue. One of the leading alternatives to this fuel issue could be natural gas.
The United States spends billions of dollars on importing oil. This is represented as almost two-thirds of the country’s entire annual trade deficit. Now that there is more access to gas deposits, there is no need to rely on other countries around the world for fossil fuels. America can instead rely on their own resources to provide energy for the residents. America is already the world's largest producer of natural gas thanks to shell drilling and the country's sits on 2 of the world's largest gas fields gas production has soared 20 percent in five years in the United States now should have enough gas to last generations soon the nation will begin exporting gas and unimaginable possibility just a few years ago when energy supplies look set to run out in the construction of gas importing facilities was considered a matter of national urgency (Zuckerman, G.,
The United States has become one of the leading producers of natural gas in the world, and now is an exporter of natural gas as well. As natural gas imports increase, the U.S. Energy Information Administration, ?Expects the United States to
Fuel is material such as coal, gas, or oil that is burned to produce heat of power. Energy is an indirectly observed quantity. It is often understood as the ability a physical system has to do work on other physical systems. Fossil fuels are the natural substances made deep within the Earth from the remains of ancient plants and animals. Fossil fuels can be created when organic deposits from millions of years ago break down and decompose. This material can then be burned to create energy. Fossil fuels include coal, peat and petroleum oil.
Have you ever wondered about how today’s society is affecting the Earth? Well, today’s society is tremendously affecting it; due to hydraulic fracturing, or fracking. Fracking is very dangerous to the human body and the Earth. Not only that, but it also is not favored by the law.
The process of hydraulic fracturing has been around since the 1940’s, though not until recent years has it been an economically viable option. Hydraulic fracturing, or “fracking”, refers to the process of injecting large volumes of water, mixed with a proppant (usually sand) and chemicals, down a well at high pressures in order to fracture underground formations with low permeability. Due to technology advances allowing companies to drill horizontal wells in recent years, the use of fracking has grown exponentially in the United States. This is due to the fact that fracking has allowed oil and natural gas companies to feasibly produce large hydrocarbon supplies in low-permeable shale formations, which were previously thought to be economically inaccessible. This natural gas “boom” caused by widespread use of hydraulic fracturing has provided great opportunities for the United States. By creating a large domestic energy supply, the US has been able to lower dependence on foreign oil imports. Also, natural gas has emerged as a viable fuel source and even burns cleaner than other fossil fuels. Though, fracking has also become a hot topic from an ethical standpoint, with alarming environmental detriments coming to light. With claims and studies that hydraulic fracturing has caused water contamination, water shortages, and even earthquakes, many people are questioning its current use and future viability. Some counties and states are even beginning to completely ban the use of fracking overall. The first canon of the National Society of Professional Engineers code of ethics states that all engineers should “hold paramount the safety, health, and welfare of the public.” (NSPE.org) In order to uphold this code, I believe the env...
From the 1970s to the 1990s, pipelines became far more versatile than before. More pipelines were being used to transport natural gas, such as carbon dioxide for oil recovery and other natural gas liquids for a growing heating industry. Pipelines were being constructed to gather oil and gases more than a mile beneath the bottom of the
Offshore oil drilling refers to a mechanical process in which a wellbore is drilled through the seabed in search for petroleum that lies in rock formations. In 1891, the first oil wells were submerged in the Grand Lake St. Marys in Ohio. Since that day they have expanded their range of oil drilling, and our ecosystems are now paying the price for it. I think that offshore oil drilling should be banned because it is ruining the environment, hurting marine wildlife, and even has a negative affect on us humans.
Furthermore met more than 60% of worldwide vitality request by the oil and gas industry. Advancement undertakings and foundation as far and wide as possible, depend on the business. The oil and gas industry is a basic industry globally. The business might be isolated into five parts:
The industry is divided into three distinct sectors including the upstream, midstream and downstream sectors. The upstream sector includes the exploration and production of crude oil as well as the exploration and production of natural gas. This sector has experienced the largest amount of deals in terms of mergers and acquisitions, which will be further discuss in section III. The midstream sector involves the transportation of extracted petroleum from the upstream sector through pipelines, rail, barge, truck as well as storage. Finally, the downstream sector connects the end consumers through derived products such as gasoline, liquefied natural gas (LPG), liquefied natural gas (LNG), kerosene (aircrafts), and diesel…
Biomass gasification is a process by which biofuel is produced. It has been used for over 180 years but in the last decades it has been reconsidered as an interesting technique due to the fact that oil supplies are decreasing. As mentioned before, gasification is a thermal process. Heat is added up in order to convert the organic mass to biofuel. The biomass usually undergoes drying, pyrolysis, partial oxidation and reduction. Nowadays the configurations used for gasification are three: fixed bed gasifier, fluidized bed gasifier and entrained bed gasifiers. The simplest configuration is the
In addition to, a huge issue with non-renewable energy is the fact that we get most of it from foreign countries. According to a recent study done by Energy Information Administration, “58% of our petroleum comes from outside the country”, this means as some speculate, that o...