S.Korea Backs US Shale Gas Imports, Investment
South Korea stepped up a push on Friday to encourage its oil and gas companies to invest in U.S. shale gas projects, amid expectations that more opportunities will arise under a Trump administration. Asia's fourth-largest economy is the world's second-largest buyer of liquefied natural gas (LNG) after Japan, importing about 30 million tonnes a year through state-run Korea Gas Corp (KOGAS). In a meeting with the heads of Korean gas companies, energy minister Joo Hyung-hwan stressed the need to strengthen bilateral cooperation in the gas sector, with the first Korean imports of U.S. shale gas due to start next year, according to the ministry statement.
HongHua Group Signs Agreement for GE Waukesha Gas Engines
With China seeking to boost its production of unconventional gas supplies to meet Asia's growing energy needs, GE Power & Water's Distributed Power business (NYSE: GE) and China's leading drill rig manufacturer HongHua Group (HK 196) today signed a three-year agreement for GE to supply its Waukesha VHP gas engines that will power drill rigs used in new shale gas projects in China. The announcement was made at the Offshore Technology Conference being held in Houston. In recent years, GE's gas engine factory in Waukesha, Wisconsin, has seen orders steadily increase as more countries seek to develop their domestic natural gas resources to increase their local energy independence.
Shale Gas Verification Service Launched by DNV GL
DNV GL, an independent foundation with the purpose of safeguarding life, property and the environment, informs it has launched a comprehensive, tailor-made independent verification service based on the provisions of its Recommended Practice for Risk Management of Shale Gas Developments and Operations (RP), regulatory requirements and other publicly available standards. "As shale gas and liquids development are experiencing exponential growth in North America, a wide range of operational risks have been realized…
Shale Gas Risk Management: DNV Leads the Way
DNV has launched a recommended practice (RP) for the entire life cycle of shale gas extraction, based on risk management principles. The recommended practice provides a reference document for the independent verification of shale gas projects. The objective is for the RP to form the basis for a globally recognised standard for safe and sustainable shale gas extraction. DNV’s recommended practice applies risk management principles, to ensure that threats related to shale gas activities are effectively and efficiently managed in an accurate, balanced, transparent and traceable way. “The overall objective of this Recommended Practice is…
