Latest market news

Washington governor signs renewable natural gas bill

  • : Biofuels, Emissions, Natural gas
  • 18/03/23

Proponents of low-carbon fuels in Washington state have secured a legislative victory that should expand the role of renewable natural gas.

Governor Jay Inslee (D) yesterday signed into law a bill that requires the state to submit recommendations on how to promote the sustainable development and use of renewable natural gas, while pursuing voluntary gas quality standards for the injection of the product into natural gas pipelines. The bill also reinstates and expands several tax incentives for the industry.

"This bill will help in our fight against climate change by reducing highly-polluting methane emissions and displacing fossil fuels with low-carbon, renewable sources of biogas," said Inslee. "As we transition to a clean-energy future, this will help us promote production of renewable natural gas from landfills, wastewater treatment plants, food processing, and agriculture."

The measure, HB 2580, received broad support in the Legislature, passing the Senate by a 47-1 vote and the House unanimously.

Backers of the new law said it will help reduce methane emissions and decarbonize natural gas infrastructure.

"By supporting renewable natural gas project development, Washington's leaders are supporting the creation of clean energy sector jobs, improved air quality and public health," said Johannes Escudero, chief executive officer of the Coalition for Renewable Natural Gas.

Renewable natural gas, also known as biomethane, is a more processed form of biogas and can be used to produce renewable electricity, heat and low-carbon transportation fuels. Biogas develops through the decomposition of organic materials like those found in landfills, wastewater treatment plants or dairy farms.

Two of the approximately 70 renewable natural gas plants in the US operate in Washington. The Cedar Hills Landfill produces the fuel from municipal solid waste, while the King County South Treatment Plant takes advantage of wastewater. One additional landfill facility is under construction and two more projects are planned for the near future, according to the Coalition for Renewable Natural Gas.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

24/09/26

Low Argentina rivers lift Brazil biodiesel

Low Argentina rivers lift Brazil biodiesel

Sao Paulo, 26 September (Argus) — A drop in river levels in Argentina's Parana upriver region amid a historical drought has snarled transport and inflated soybean oil and biodiesel prices in Brazil. The depth of the Parana River in Argentina's San Lorenzo city, a major hub for soybean oil shipments, dropped to 9.44m (30ft) on 20 September, the lowest level since January 2023, according to information provided by maritime agencies T&T and Antares. The lower river flow is forcing soybean oil traders to reduce how much product they load onto tankers that stop at Argentinian ports by between 5-12.5pc, according to Argentina market sources. A 12.5pc capacity reduction on a standard tanker would mean a loading 28,000 metric tonnes (t) instead of 32,000t. These restrictions have affected the Brazilian soybean oil and biodiesel market, as trading companies seek additional volumes in Brazilian seaports to complete shipments for export. A change in Chicago Board of Trade (CBOT) differentials at the port of Paranagua was first observed on 27 September, when the premium for selling soybean oil for shipment in October rose to 8¢/lb in relation to the future contract traded on the CBOT. Earlier in the week, offers were close to 1.8¢/lb. On 25 September, negotiations ranged between premiums of 2.5-5.5¢/lb in relation to the soybean oil future contract due in October, corresponding to prices between $1,034-1,100/t fob Paranagua. Last week, the Argus fob Paranagua indicator closed between $934-1,009/t. Soybean availability in the Brazilian market is reduced amid strong demand in the domestic market, driven by an increase in the biodiesel blending mandate to 14pc from 12pc in March. The rise in domestic demand has also reduced the competitiveness of Brazilian exports, contributing to a drop in soybean oil shipments to ports. Brazil's association of vegetable oil industries Abiove predicts that 2024 exports will total 1.15mn t, nearly half of the volumes dispatched in 2023. Lever effect The low availability of soybean oil in the Brazilian market was concerning market participants even before the deterioration of the situation in Argentina. The price of soybean oil for export is the main factor in the price equation for most supply contracts between biodiesel producers and distributors. Logistics problems associated with a lower Parana River contribute to the imbalance between increased demand for soybean oil in the biodiesel sector and a shortage of product in the market. Soybean oil is the main input for biodiesel production in Brazil, accounting for 72.5pc of all feedstocks used in national production in the first eight months of 2024, according to data from hydrocarbons regulator ANP. And rising soybean oil prices tend to boost prices of other raw materials, such as beef tallow, which represented 6.5pc of biodiesel inputs in the same period. Faced with the rising cost of inputs, Brazilian biodiesel plants have been prioritizing the delivery of volumes contracted for the September-October supply period and the delivery of overdue volumes for the previous bi-monthly period. That has limited the availability of spot market volumes. This sudden rise in the price of soybean oil in Paranagua has also reduced the domestic market premium in relation to the export market. This makes it more attractive for regional producers to sell product abroad. By Amance Boutin and Joao Marinho Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Aug wildfires in Brazilian state surge eightfold


24/09/26
24/09/26

Aug wildfires in Brazilian state surge eightfold

Sao Paulo, 26 September (Argus) — Fires in Sao Paulo, Brazil's most populous state, increased eightfold in August from the same month last year, an "alarming rate" amid extreme climate conditions that harm the sugarcane industry, sector associations said. The state had 11,628 fire outbreaks last month, more than triple the historic average of 3,550. Nearly half of the fires took place on 23 August alone, according to data from industry association Canaoeste and fire monitoring network GMG Ambiental. Fires hit 658,600 hectares. The town of Pitangueira had the most blazes, at 354. Altinopolis and Sertaozinho came in second and third, with 252 and 296, respectively. Nearly all of the most affected towns have high production of sugarcane. The groups highlighted that 20-24 August fires happened as low humidity, high temperatures and strong winds put Sao Paulo in "extreme risk" for wildfires. The data was shown in a meeting with several industry representatives, such as Canoeste, Unica and Orplana. The groups added that sugarcane producers were not responsible for the fires nor were benefiting from them, defending themselves from accusations that they could be lighting fires to accelerate harvesting — an old common practice supposedly abolished. By Maria Ligia Barros Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

US Gulf oil shut-ins drop as Helene nears landfall


24/09/26
24/09/26

US Gulf oil shut-ins drop as Helene nears landfall

New York, 26 September (Argus) — US Gulf of Mexico oil production shut-in levels fell today as Hurricane Helene bore down on Florida's west coast as a category 3 storm, bringing the threat of dangerous storm surge and winds. Around 441,923 b/d of US offshore oil output, or 25pc, was off line as of 12:30pm ET, according to the Bureau of Safety and Environmental Enforcement (BSEE). That is down from 29pc on Wednesday as the eastern Gulf path of the storm took it farther away from most offshore production facilities. About 363.39mn cf/d of natural gas production, or 20pc of the region's output, was also off line today, up from 17pc on Wednesday. Operators have evacuated workers from 27 offshore platforms. Helene was last about 145 miles west-southwest of Tampa, Florida, packing maximum winds of 120mph, according to a 4pm ET advisory from the US National Hurricane Center. Further intensification is likely and Helene could approach the coast at category 4 strength, with winds of at least 130mph. Landfall is expected near Port Leon on Apalachee Bay Thursday evening before Helene is forecast to turn northwestward and slow down over the Tennessee Valley on Friday and into the weekend. Earlier this week, offshore operators including BP, Equinor and Chevron took the precaution of suspending some operations and evacuating workers from offshore facilities in advance of the hurricane. Some facilities have since started back up as the hurricane's track shifted away from the main oil and gas hub in the region. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

New York picks WCI for carbon market platform


24/09/26
24/09/26

New York picks WCI for carbon market platform

New York, 26 September (Argus) — New York state will use the Western Climate Initiative (WCI) platform when administering its economy-wide carbon market, the latest sign that regulators in the state are looking to align program elements with systems in other North American carbon markets. Regulators from Quebec and New York announced the agreement on Wednesday at the International Emissions Trading Association's North American Climate Summit, an event on the sidelines of the UN General Assembly and Climate Week NYC. After a competitive process to select a platform for its market, New York state reached a deal this week to lean on the WCI for its "market registry platform, the auction platform, and financial services", New York State Department of Environmental Conservation deputy commissioner Jon Binder said. The WCI nonprofit provides the market infrastructure for California and Quebec's linked carbon market, as well as for a similar program in Washington state where regulators are weighing a potential linkage with the other two. Any eventual linkage with New York's program, which could see compliance obligations start in 2026, would be made easier by all the jurisdictions utilizing the same system for administering their respective programs. The decision does not "necessarily mean these programs are linking," but New York is "happy to keep those conversations going in that regard," Binder said. Nova Scotia, which wound down its cap-and-trade program last year, used the WCI platform for auctions without linking its programs with any other jurisdictions. "It doesn't mean that New York will link with us," said Jean-Yves Benoit, chair of the WCI board and the director general of carbon regulation and emissions data at Quebec's environment ministry. "Although I would be very happy if we issue a joint press release next year saying that." By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Hurricane Helene shuts in 29pc of US Gulf oil


24/09/25
24/09/25

Hurricane Helene shuts in 29pc of US Gulf oil

New York, 25 September (Argus) — Hurricane Helene, which is forecast to intensify as it heads for a late Thursday landfall in Florida, has shut in about 29pc of US Gulf of Mexico oil output. Around 511,000 b/d of US offshore oil output was off line as of 12:30pm ET, according to the Bureau of Safety and Environmental Enforcement (BSEE), while 313mn cf/d of natural gas production, or 17pc of the region's output, was also off line. Operators have so far evacuated workers from 17 offshore platforms. Helene was last about 110 miles north-northeast of Cozumel, Mexico, according to a 2pm ET advisory from the US National Hurricane Center, with maximum sustained winds of 80 mph. Helene is expected to be a major hurricane, with winds of at least 111mph, when it reaches the eastern Florida coast on Thursday evening. "A turn toward the north and north-northeast with an increase in forward speed is expected later today through Thursday, bringing the center of Helene across the eastern Gulf of Mexico and to the Florida Big Bend coast by Thursday evening," the center said. Shell restarting some production Although the hurricane will largely pass to the east of most offshore oil and gas production areas, companies have taken precautionary measures. Given a shift in the forecast track, Shell said late Tuesday that it had started to ramp up production at the Appomattox platform to normal levels, and was in the process of restoring output at the Stones facility, both off the coast of Louisiana. It paused some drilling operations. Chevron said earlier it was shutting in production at company-operated facilities in the Gulf of Mexico, and evacuating all workers. Equinor said it was shutting down the Titan oil platform. BP had earlier this week started to shut in production at its Na Kika and Thunder Horse platforms, southeast of New Orleans, and was curtailing output from its Argos and Atlantis facilities, as well as removing non-essential staff. US offshore production was disrupted earlier this month when Hurricane Francine made landfall, with up to 42pc of production was offline at one point. The offshore Gulf of Mexico accounts for around 15pc of total US crude output and 5pc of US natural gas production. By Stephen Cunningham Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more