Forsaking

Those whose interests are favored by liquefied natural gas (LNG) forsaking U.S. shores can thank more attractive oil-indexed pricing in Asia and European demand for holding back the long-predicted tide of cargoes, at least for this year and next, according to an analysis by Tudor, Pickering, Holt & Co. Securities Inc. (TPH).

Those whose interests are favored by liquefied natural gas (LNG) forsaking U.S. shores can thank more attractive oil-indexed pricing in Asia and European demand for holding back the long-predicted tide of cargoes, at least for this year and next, according to an analysis by Tudor, Pickering, Holt & Co. Securities Inc. (TPH).

North American exploration and production in 2000 will be nearlyall about gas and all about independents, with spending plans ofthe majors largely forsaking this country for opportunitiesoverseas. That’s one finding of Lehman Brothers, which from Nov. 6to Dec. 10 surveyed 320 companies in what it calls “the mostextensive study of oil company spending plans that has ever beendone.”