Annual

Natural gas is king, the Energy Information Administration (EIA) declared in its annual International Energy Outlook. Gas use worldwide is projected to grow faster than consumption of any other fuel over the next two decades, EIA said. Over the 1999-2020 forecast period, gas use is projected to nearly double in the reference case, reaching 162 Tcf worldwide in 2020.

Despite the economic downturn, electric demand on New York’s Long Island is still growing at an annual rate of 100 MW per year, and supply on the large, heavily populated island opposite Manhattan will remain tight this summer, according to Long Island Power Authority (LIPA) Chairman Richard M. Kessel.

Coming off of a fourth quarter in which it achieved its targeted annual production rate growth of 17%, Phillips Petroleum Co. added 433 MMboe, net of sales, to its worldwide proved reserves in 2001, replacing 135% of its 2001 worldwide oil and gas production.

Coming off of a fourth quarter in which it achieved its targeted annual production rate growth of 17%, Phillips Petroleum Co. added 433 MMboe, net of sales, to its worldwide proved reserves in 2001, replacing 135% of its 2001 worldwide oil and gas production.

Natural gas consumption by the electricity sector, which was approximately 16 Bcf/day last year, is expected to grow by as much as 2 Bcf/d annually during 2002 and 2003, according to an analysis conducted by Houston-based Simmons & Co. International.

Natural gas consumption by the electricity sector, which was approximately 16 Bcf/day last year, is expected to grow by as much as 2 Bcf/d annually during 2002 and 2003, according to an analysis conducted by Houston-based Simmons & Co. International.

Following a busy annual shareholder meeting last Wednesday, New Jersey Resources Corp. (NJR), parent company of New Jersey Natural Gas Co. (NJNG), reported higher fiscal 2002 first-quarter earnings of $1.10 per share, a 10% increase compared with last year; a three-for-two stock split and a 500,000 share increase in its share repurchase plan. The meeting also marked the 50th anniversary of NJNG.

Following a busy annual shareholder meeting Wednesday, New Jersey Resources Corp. (NJR), parent company of New Jersey Natural Gas Co. (NJNG), reported higher fiscal 2002 first-quarter earnings of $1.10 per share, a 10% increase compared with last year; a three-for-two stock split and a 500,000 share increase in its share repurchase plan. The meeting also marked the 50th anniversary of NJNG.

Los Angeles County, a multi-million-dollar annual electricity and natural gas consumer, has sued San Diego-based Sempra Energy and one of its two major utility distribution companies, Southern California Gas Co., for unspecified monetary damages, alleging the companies were part of a massive conspiracy to drive up natural gas and electricity costs that ultimately will cost taxpayers “hundreds of millions of dollars,” according to a recent report in the Los Angeles Daily News, which includes a strong denial from the companies.