With the glut of natural gas in the U.S., domestic companies are exploring different avenues of putting the cleaner-burning fuel to good use. Some, like Cheniere Energy, Inc. (NYSEMKT:LNG), whose Sabine Pass terminal was the first LNG export venture to receive federal approval, are looking to export the stuff.
Others are using it right here in the U.S. to power trucks and other vehicles. Waste Management, Inc. (NYSE:WM), for instance, has amassed a sizable fleet consisting of 2,000 trucks powered by compressed natural gas, or Cheniere Energy, Inc. (NYSEMKT:LNG). It even recently opened a new Cheniere Energy, Inc. (NYSEMKT:LNG) fueling station in Bristol, Pa., to help fuel its growing fleet, as well as to provide fueling options for the public.
Along with LNG exporters and companies with large trucking fleets, other companies are also finding innovative ways of tapping the plentiful supply of U.S. natural gas. Let’s take a closer look at three of them.
Halliburton Company (NYSE:HAL)
First up is oilfield services company Halliburton Company (NYSE:HAL), which recently revealed how it’s using natural gas to fuel some of its vehicles. In a YouTube video, the company announced the addition of nearly 100 new light-duty trucks that can run on compressed natural gas.
The trucks, which can burn either CNG or gasoline, will be used for regular business operations, such as transporting personnel and equipment, in various locations where the company operates, including California, Colorado, Louisiana, Oklahoma, Pennsylvania, Texas, and Utah.
According to a statement by the company, the deployment of these trucks is part of a pilot program the company is implementing to help it decide how to expand its natural gas usage. The company’s rationale behind using CNG has to do with cost savings and greenhouse gas emission reductions. Indeed, Halliburton Company (NYSE:HAL) reckons the new trucks will slash emissions by 90% when they burn CNG and save roughly $5,100 in annual fuel costs.
The company is also cozying up to the idea of using natural gas to fuel hydraulic fracking operations, an approach that exploration and production companies including Apache Corporation (NYSE:APA) and Cabot Oil & Gas Corporation (NYSE:COG) are already using.