Point of View: Gas processing, now established, must manage volatility

Whipsawed by events, markets, and regulations in the last 25 years, few oil and gas industries have had to adjust as nimbly as natural gas processing, especially in the US.Perceived as a stodgy stepchild to the often more profitable and glamorous production function within the oil companies, gas processing has reacted to industry changes of the late 1970s and 1980s by evolving into a robust "midstream" business, an entity in its own right.The industry today provides gas producers, on the one hand, with services they must have and petrochemical producers, on the other hand, with light-hydrocarbon feedstock they must have.The position, however, is rarely comfortable, says Bill Cepica, who h...

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