Rosy

An economic think tank predicts a rosy future for Canadian natural gas, but in the industry all bets are off on when a turn for the better might come.

An economic think tank predicts a rosy future for Canadian natural gas, but in the industry all bets are off on when a turn for the better might come.

Putting the first, albeit small, chink in the rosy natural gas storage picture, the Energy Information Administration (EIA) said Thursday morning that 68 Bcf was put into underground storage for the week ended Sept. 17. The weekly storage injection was considered largely bullish when compared to historical data for the week, but most industry-watchers had been expecting a smaller-than-normal injection because of the impact of Hurricane Ivan on Gulf of Mexico production.

Total natural gas supply is on track to grow at a slower rate over the next two decades than had been previously anticipated, the Energy Information Administration (EIA) said last Thursday in its Annual Energy Outlook for 2004 (AEO2004). And that’s after liquefied natural gas (LNG), unconventional gas and Alaska gas have been factored in.

Total natural gas supply is projected to grow at a slower rate over the next two decades than had been previously anticipated, the Energy Information Administration (EIA) said Thursday in its Annual Energy Outlook for 2004 (AEO2004). And that’s after liquefied natural gas (LNG), unconventional gas and Alaska gas have been factored in.

Despite forecasts of slower regional economic and population growth, the Northeast is expected to consume one-third more natural gas over the next 20 years just to fuel the string of power generation facilities that are planned for the region, an official with the Energy Information Administration (EIA) said last Thursday.

Despite forecasts of slower regional economic and population growth, the Northeast is expected to consume one-third more natural gas over the next 20 years just to fuel the string of power generation facilities that are being constructed in the region, an official with the Energy Information Administration (EIA) said Thursday.

A major independent producer group has painted a rosy outlookfor short- and long-term growth of domestic gas demand and supply.U.S. gas demand is expected to rise by one percent to 22.23 Tcf in1998, eclipsing the previous consumption peak achieved in 1972, andlikely will hit 23 Tcf in 2000, according to forecasts issued atthe Independent Petroleum Association of America’s (IPAA) Oil andGas Investment Symposium in New York Tuesday.