The Number Today: 50,000,000

The Number Today: 50,000,000

The world’s top crude oil consumers are set to release supplies from their country’s strategic petroleum reserves to try and quell rising prices amid global energy shortages and increasing inflation. But is this combined effort nothing more than smoke and mirrors? Join Steve Reese tonight at 6 pm on Okla. City’s KOCO TV channel 5 to hear what he thinks about the latest moves from the U.S., India, Japan, China, South Korea, and the U.K. to put more barrels on the market and how OPEC+ could respond.

Learn more about Steve and Reese Energy Consulting at www.ReeseEnergyConsulting.com.

Reese Energy Consulting

Reese Energy Consulting (REC) works with independent oil and gas producers, midstream firms, LNG companies, and end-users across all major producing basins and markets in the U.S. They offer a diverse range of energy expertise, experience and services throughout every phase of upstream, midstream and downstream processes to help their clients maximize their capital investments and commodity value chain.

reeseenergyconsulting.com

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Most Wanted: LNG

Most Wanted: LNG

The world’s largest purchaser of LNG has now become a major stakeholder in Houston-based Freeport LNG. Reese Energy Consulting today is following the latest news from Japan’s JERA Co., which will acquire a 25.7% interest in Freeport for $2.5 billion. The deal adds to JERA’s 25% share of Train 1, which supplies 2.32 mtpa of LNG exported to Japan and other importing countries. The country last year imported a combined 74.4 million tons from the U.S., Australia, Malaysia, Qatar, Russia, and Indonesia. Freeport, the nation’s second-largest LNG producer at 15+ mtpa, launched operations on its third train in May 2020 with expansion plans for a fourth that is fully permitted and shovel-ready. Total cost of the facility is estimated at $14 billion. The company also distinguishes itself as the only U.S. LNG producer to use electric motor-driven technology to emit 90% less CO2 compared to gas turbines. JERA was formed in 2014 to promote the country’s transition from coal through global acquisitions and alliances to achieve zero CO2 emissions by 2050. JERA Americas is headquartered in Houston.

What do you think? Learn more about REC and our range of natural gas and LNG services at www.ReeseEnergyConsulting.com.

Freeport LNG

Freeport LNG Development, L.P. was formed in 2002 to develop, own and operate an LNG terminal on Quintana Island, near Freeport, Texas. The terminal started LNG import operations in June 2008 and began LNG export operations in 2019.

freeportlng.com

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