Company seeks to restructure North Dakota’s gas industry
BISMARCK, N.D. (AP) — A natural gas infrastructure company is trying to reduce flaring in the Bakken region by developing new markets for natural gas products within North Dakota.
Mike Hopkins, CEO of Bakken Midstream Partners, told the Bismarck Tribune that the company is developing projects to change how the natural gas industry operates.
North Dakota’s existing infrastructure is designed to export natural gas and natural gas liquids. Hopkins hopes to create new infrastructure to allow natural gas to be used in the state, leading to a reduction in flaring and the creation of jobs and a new tax base.
In March, North Dakota produced 2.8 billion cubic feet per day of natural gas. About 20% was flared because of inadequate pipelines, processing plant capacity and other infrastructure issues.
“If you look at the flaring statistics, they’ve been pretty consistently discouraging,” Hopkins said.
Hopkins declined to provide further details on the company’s projects since they’re under development, but he gave examples including processing plants, natural gas-fired power generation, enhanced oil recovery projects and fertilizer plants.
He said construction on Bakken Midstream’s first project could begin as early as 2021.
“We definitely have the financial capacity to bring outside investment needed for this,” Hopkins said. “These are not small investments. Most of the things we’re looking at start in the hundreds of millions and quickly can get into the billions.”
Information from: Bismarck Tribune, http://www.bismarcktribune.com