Fuel

Asian demand will fuel liquefied natural gas (LNG) growth in this decade, but in the long run, the Atlantic basin, particularly the United States, will witness the greatest growth, according to a new Industry Outlook report by Moody’s Investors Service.

Asian demand will fuel liquefied natural gas (LNG) growth in this decade, but in the long run, the Atlantic basin, particularly the United States, will witness the greatest growth, according to a new Industry Outlook report by Moody’s Investors Service.

Asian demand will fuel liquefied natural gas (LNG) growth in this decade, but in the long run, the Atlantic basin, particularly the United States, will witness the greatest growth, according to a new Industry Outlook report by Moody’s Investors Service.

The U.S. Census Bureau released data Tuesday showing that 57% of U.S. homes (62 million) used natural gas as a heating fuel in 2003. The second most popular home heating source was electricity, used by 31% of U.S. homes (33.9 million). According to the survey, the states with some of the highest percentages of households using gas to heat their homes were Utah (88.5%), Michigan (86.9%), Illinois (86.7%), Iowa (82.3%) and Colorado (80.2%). States having warmer climates were more likely to use electricity. More than 35% of the nation’s households using electricity were concentrated in just three states: Florida, Texas and California, the survey said.

The U.S. Census Bureau released data Tuesday showing that 57% of U.S. homes (62 million) used natural gas as a heating fuel in 2003. The second most popular home heating source was electricity, used by 31% of U.S. homes (33.9 million). According to the survey, the states with some of the highest percentages of households using gas to heat their homes were Utah (88.5%), Michigan (86.9%), Illinois (86.7%), Iowa (82.3%) and Colorado (80.2%). States having warmer climates were more likely to use electricity. More than 35% of the nation’s households using electricity were concentrated in just three states: Florida, Texas and California, the survey said.

Buoyed by strong growth in the Barnett Shale play in Texas, as well as new exploration in Trinidad and the North Sea, EOG Resources Inc. on Thursday raised its production growth target to 9%, or 1.216 Bcfe/d, up from a previous forecast of 8%, or 1.167 Bcfe/d. For 2005, EOG forecast a 14% rise in production to 1.386 Bcfe/d and it forecast an 8% hike to 1.497 Bcfe/d in 2006 — most of it in North America.

Buoyed by strong growth in the Barnett Shale play in Texas, as well as new exploration in Trinidad and the North Sea, EOG Resources Inc. on Thursday raised its production growth target to 9%, or 1.216 Bcfe/d, up from a previous forecast of 8%, or 1.167 Bcfe/d. For 2005, EOG forecast a 14% rise in production to 1.386 Bcfe/d and it forecast an 8% hike to 1.497 Bcfe/d in 2006 — most of it in North America.

The weather picture is still decidedly bearish in the Midwest and Northeast market areas, but the cash market was able to cobble together a substantial rebound at all points from last week’s five-day losing streak Monday. A fresh surge of activity on the Atlantic tropical storm front and a trend of gradually rising temperatures in the South starting Tuesday provided the main support for higher numbers.

In a new report, titled “WECC Electricity & Fuel Price Outlook,” Sacramento, CA-based consulting firm Henwood Energy acknowledged having to raise its natural gas price forecast by 50 cents/MMBtu but said it still expects gas prices to come down from their current lofty levels in the long term to about $3.50-4.00.