Natural Gas Drillers Are Fighting for Their Lives - Bloomberg

Natural Gas Drillers Are Fighting for Their Lives - Bloomberg:

The natural gas industry is on a mission to prove it can keep up with the green energy industry, whose price reductions are starting to become a competitive threat to fossil fuels.

Gas and oil producers have slashed overheads by a third since 2014 and are finding deeper reductions harder to come by, according to energy consultants Wood Mackenzie. That’s spurring them to rewrite supply contracts, build mobile liquefied natural gas terminals and take more prosaic steps like fixing leaky pipes.

“This is about getting affordable energy out,” said Jens Okland, executive vice president of marketing, midstream and processing at Equinor ASA, Norway’s biggest energy company. “A lot of these LNG projects are huge. You need to make them cheaper, quite simply.”