Projections

While coming in well within industry projections, the Energy Information Administration’s (EIA) natural gas storage report for the week ended Dec. 24 slashed the running surplus compared to last year’s level as well as the five-year average. The EIA reported that 178 Bcf was pulled from underground storage for the week.

Long-term forecasts by the Energy Information Administration (EIA) understate the true potential of liquefied natural gas (LNG) supply that could be available to the domestic marketplace through 2010, but the manufacturing and industrial sectors need to actively support the growth of the domestic LNG industry, according to a new report by Arlington, VA-based Manufacturers Alliance/MAPI.

Long-term forecasts by the Energy Information Administration (EIA) understate the true potential of liquefied natural gas (LNG) supply that could be available to the domestic marketplace through 2010, according to a new report by Arlington, VA-based Manufacturers Alliance/MAPI, a nonprofit economic and policy research organization.

ONEOK Inc. said Monday its earnings guidance for 2005 will exceed analysts’ projections based on higher anticipated operating income from its production, gathering and processing and distribution units.

Amid projections of continued growth in natural gas demand and tighter supplies, a delay as short as two years in the construction of gas pipelines, storage facilities and liquefied natural gas (LNG) terminals will cost U.S. gas consumers more than $200 billion by 2020, according to a new study released by The INGAA Foundation Monday.

Amid projections of continued growth in natural gas demand and tighter supplies, a two-year delay in the construction of gas pipelines, storage facilities and liquefied natural gas (LNG) terminals will cost U.S. gas consumers more than $200 billion by 2020, according to a new study released by The INGAA Foundation Monday.

Following the Energy Information Administration’s (EIA) announcement of a 28 Bcf build for the week ending April 16, the Nymex May natural gas futures contract immediately probed lower, reaching $5.55 just before 11 a.m. EDT, before rebounding higher to close the session at $5.623, up 4.1 cents on the day.

With National Petroleum Council projections that liquefied natural gas (LNG) deliveries into the United States could grow to 15 Bcf/d by 2020 from about 2.5 Bcf/d currently, all of the majors are beginning to take significant positions in the domestic LNG market. ExxonMobil said last month that it is looking at four sites for U.S. LNG terminals (see NGI, Oct. 20), and last week Shell announced its own offshore Louisiana LNG terminal, which would be in direct competition with one already planned by ChevronTexaco.

With hints of increasing earnings projections for the full year next month, San Diego-based Sempra Energy’s CEO Steve Baum told a Wall Street audience last Wednesday that Sempra has carved out a major role in both natural gas and liquefied natural gas (LNG) marketing. Separately, on its electric side, Sempra is trying to start discussions for a global settlement with California officials regarding a long-term power supply contract with the state Department of Water Resources (DWR) and related litigation stemming from the state’s 2000-2001 energy crisis.