Fuel Fix reports that "condensate is coming, and a whole lot of it too, U.S. Energy Information Administration Director Michael Schaal told attendees at a Platts, McGraw Hill Financial pipeline conference today."
"A comprehensive definition about what exactly condensate is, however, might have to wait."
"By one broad classification, lease condensate is a very light type of oil separated at field facilities from natural gas. Under that definition, lease condensate production has been growing rapidly in the U.S. as more oil is drawn from shale. In 2012, the EIA estimated that the U.S. pumped 274 million barrels of lease condensate from the ground, compared to 173 million barrels in 2008."
"But getting more specific isn’t quite that easy. The Organization of the Petroleum Exporting Countries, some production figures and export rules all use separate measures to identify the liquid, Schaal said."