US Industry Metrics
According to data from the EIA’s Petroleum Supply Monthly publication, released in February, US production of natural gas plant liquids (NGL) increased for the 12th straight year in 2017. Output climbed to a record 3.74 MMbpd, representing a 6.4% increase over 2016 volumes. The EIA also forecast in its Short-Term Energy Outlook that NGL production will increase by 15% this year as the ethane market continues to expand. If realized, this expansion would be the second-highest rise recorded after the 16% increase seen in 2014. GP
US gas production (Bcfd) and prices ($/Mcf)
US natural gas spot prices at Henry Hub and NGL spot prices at Mont Belvieu, $/MMBtu
US natural gas plant field production of NGL, LPG, ethane and propane, Mbpd
The US Energy Information Administration (EIA) reported in April that the US set records for natural gas production in 2017.
- Energy Web Atlas
Since market reforms first started in 1978, China has shifted from a centrally planned economy to a market-based economy, experiencing rapid economic and social development.
Russia aims to ally with Qatar in LNG competition with Australia and other LNG-exporting majors over the coming years.
Maximize Profitability with Advanced Analytics at Natural Gas Processing Plants
Incorporating economic data into process modeling is key to optimizing operations and maximizing profits at gas processing plants. However, maintaining optimal operations are often challenging due to changing market dynamics, contract structures and increasing process flexibility. Today, gas processors are leveraging Predictive Control and First Principles models to accurately determine and control the optimal operating targets in real time based on the most current plant conditions and profitability, optimizing recovery of natural gas liquids. Learn how real-time analytics, combined with decision support tools, empower companies to:
•Improve processing margins by up to 5%
•Maximize NGL production through improved availability and optimized process conditions
•Improve compositional control to operate closer to product specifications
May 22, 2018 10am CDT