Offset

Robust domestic gas production offset increased demand last year to yield a drop in total imports of natural gas during 2008, the Energy Information Administration (EIA) reported recently.

Robust domestic gas production offset increased demand last year to yield a drop in total imports of natural gas during 2008, the Energy Information Administration (EIA) reported last Friday.

Losses moderately outnumbered gains in Friday’s cash market as growth of heating load in the South was offset by still-substantial but eroding weather-based demand in the Northeast, Midwest/Midcontinent and Rockies.

U.S. natural gas production is on track to grow at least 3.6% in 2008 versus a year ago, and producers won’t be able to lay down rigs fast enough to offset the unprecedented growth, thus facing a “high possibility” of forced shut-ins and regional basis blowouts next summer, Raymond James & Associates Inc. reported last week.

With U.S. natural gas production on track to grow at least 3.6% in 2008 versus a year ago, producers won’t be able to lay down rigs fast enough to offset the unprecedented growth and thus face a “high possibility” of forced shut-ins and regional basis blowouts next summer, Raymond James & Associates Inc. reported Monday.

About half of an annual natural gas cost offset rate increase for Intermountain Gas Co., which was effective last Oct. 1, will be dropped Nov. 15 due to recent large decreases in the wholesale cost of gas.

Canada’s conventional natural gas production is forecast to decline by 7% between now and 2010, but developing shale and tight gas prospects in northeast British Columbia (BC) may offset the decline, the National Energy Board (NEB) reported.

Canada’s conventional natural gas production is forecast to decline by 7% between now and 2010, but developing shale and tight gas prospects in northeast British Columbia (BC) may offset the decline, the National Energy Board (NEB) reported.

Saying wholesale gas prices have fallen considerably in the past two months, Spokane, WA-based Avista Utilities Monday refiled its gas cost offset rate adjustment with Oregon regulators, seeking a 4.1% decrease effective Nov. 1 in place of an overall 2% increase it had originally sought last August.