Jeffrey Ventura on LNG exports
From Range Resources Interview with Jeff Ventura at The Oil & Gas Conference20 · · Oil and Gas 360 - EnerCom
“Range has signed and announced about 200 million per day of contracts. So I expect that'll increase with time but it's really important for the industry. Uh when you look at natural gas there's a lot of natural gas demand coming. Yeah. Uh LNG exports uh you know should be on the order of 10 billion cubic feet per day starting with Chener and ramping each and every year. We're exporting gas to Mexico currently as an industry. Um power generation is really shifting from coal to natural gas and I think a lot of the new build power generation will be natural gas. And then uh industrial use and ultimately transportation even if it's through electric vehicles I think a lot of that electricity will be from gas. So we see about 20 uh BCF per day of incremental natural gas demand by 2020. And I think it demand actually will surprise to the upside cuz it's a cleaner better fuel in range going back to the Wood Mackenzie study having a large resource base in the premier play I think that combination of uh demand coming uh with the position we have I think we'll be in a in a good position looking forward.”
On , Jeffrey Ventura, Former Chairman, President & Chief Executive Officer at RANGE RESOURCES CORP, spoke about LNG exports during Range Resources Interview with Jeff Ventura at The Oil & Gas Conference20 on Oil and Gas 360 - EnerCom.
About Jeffrey Ventura
At the 2015 Oil & Gas Conference, Jeffrey Ventura, then Chairman, President, and CEO of Range Resources, discussed the company's position in the Marcellus Shale play. Ventura stated that Range Resources had the discovery well and first commercial well in the Marcellus, completed in October 2004, which he said turned the company from a small firm into part of a premier gas field. He described Range as the largest and lowest-cost producer in the Marcellus, according to Wood Mackenzie, and emphasized that size, scale, and low cost are critical in a commodity business. Ventura also highlighted infrastructure projects, including the Spectra Uniontown to Gas City pipeline, which he said transports 200 million cubic feet per day of Range's gas to the Midwest with a pricing uplift, and the Mariner East One project, providing firm transport for 40,000 barrels per day of ethane and propane. He projected that natural gas prices would rise to $3.80 to $4.20 within a year or two due to increasing demand from LNG exports, power generation, and industrial growth, and noted that Range had over 50% of its 2016 gas hedged at a $3.42 floor.