Russia’s state-owned OAO Gazprom last year remained the champion of global natural gas production, and even though volumes were down year/year, the producer appears ready to defend its position as U.S. gas exports head to Europe, according to an analysis by Societe Generale (SG).
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Lehman Bros. Pushes 2002 Forecast to $3.00
Due to sharply rising oil prices, strong 30-day contract prices for May and a greater than expected fall-off in natural gas production during the first quarter 2002, Lehman Brothers analyst Thomas Driscoll said the firm is raising its 2002/2003 natural gas price forecasts by $0.25 and $0.50 to $3.00 and $3.50 per MMBtu, respectively.
May 6, 2002
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