Recovers

Natural gas prices, production and demand are expected to continue on a downward spiral through the rest of the year and possibly pick up in 2010 if the economy recovers, the Energy Information Administration (EIA) said in its Short-Term Energy and Summer Fuels Outlook last Tuesday.

Natural gas prices, production and demand are expected to continue on a downward spiral through the rest of the year and possibly pick up in 2010 if the economy recovers, the Energy Information Administration (EIA) said in its Short-Term Energy and Summer Fuels Outlook Tuesday.

Like others in the natural gas industry, market centers/hubs serving North America have gone through a rough patch in recent years, but most have managed to recover, according to a new report by the Energy Information Administration (EIA). The EIA said transportation volumes and overall business activity by market centers in mid-2003 either equaled or surpassed previous levels.

Spikes of a quarter or more were common at eastern points Thursday morning, as the cold weather that had failed to avert general softness on Wednesday recovered its price-supportive powers in a big way. The shivering Northeast led the way with gains of up to nearly 70 cents at Transco Zone 6 non-NY, although New England points were comparatively somewhat weak. Western upticks tended to be smaller than those in the East, although such markets as Waha, Permian Basin, San Juan Basin and Sumas rose by about 30 cents or more.