And Then There Was Abundance: Examining Natural Gas in Bruce McDowell Director, Policy Analysis American Gas Association

Size: px
Start display at page:

Download "And Then There Was Abundance: Examining Natural Gas in 2012. Bruce McDowell Director, Policy Analysis American Gas Association bmcdowell@aga."

Transcription

1 And Then There Was Abundance: Examining Natural Gas in 2012 Bruce McDowell Director, Policy Analysis American Gas Association

2 NOTICE: In issuing and making this presentation and publication available, neither AGA nor any third party cited is undertaking to render professional or other services for or on behalf of any person or entity. Nor is AGA or any third party cited undertaking to perform any duty owed by any person or entity to someone else. Anyone listening to the presentation or using this document should rely on his or her own independent judgment or, as appropriate, seek the advice of a competent professional in determining the exercise of reasonable care in any given circumstances. The AGA statements and third party data cited are for general information and represent an unaudited compilation of statistical information that could contain coding or processing errors. Neither AGA nor any third party makes any warranties, express or implied, nor representations about the accuracy of the information or its appropriateness for any given purpose or situation. The statements and publication shall not be construed as including, advice, guidance, or recommendations to take, or not to take, any actions or decisions in relation to any matter, including without limitation relating to investments or the purchase or sale of any securities, shares or other assets of any kind. Should you take any such action or decision; you do so at your own risk. Information on the topics covered may be available from other sources, which the you may wish to consult for additional views or information not covered.

3 From something old comes something new: Can you recognize today's gas industry?

4 Oh How Times Have Changed Natural gas outlook Then: Bridge fuel Now: Foundation fuel Natural gas as a resource in the US Then: 60 year supply Now: 100 year supply Natural gas prices Then: Highly volatile and relatively expensive Now: Lower and stable International gas trade Then: US to become more dependent on imports Now: US to become a player in the export market? Yet challenges lay ahead 4

5 Daily Natural Gas Production Source: Energy Information Administration, U.S. Department of Energy. 5

6 This is what the fuss is all about: Shale Source: 6

7 Marketed Natural Gas Production Source: Energy Information Administration. 7

8 Hydraulic Fracturing Source: Chesapeake Energy. 8

9 ExxonMobil YouTube Video on Hydraulic Fracturing 9

10 The Debate Over The Process All of the Sudden, Natural Gas Is Evil Claims Potential supply overstated, quotes DOE official Drilling is more costly than expected Drilling damages the environment Greenhouse gases worse from shale drilling than coal use State & local bans on hydraulic fracturing DOE report on improving hydraulic fracturing practices EPA study on hydraulic fracturing In Our Defense Shale production exceeding expectations, no evidence of bubble yet DOE official quoted is actually an intern Drilling is still profitable, as evidenced by investment activity Even using revised GHG numbers from EPA, gas use causes only half the GHG as coal DOE 90 day draft calls for reasonable standards EPA draft study plan to is being reviewed by EPA s Science Advisory Board 10

11 U.S. and Canada Shale Basins Source: National Energy Board, Understanding Canadian Shale Gas,

12 Natural Gas Directed Rig Count Source: Energy Information Administration, U.S. Department of Energy. 12

13 Bcf per day U.S. Shale Gas Production Energy information Administration est. US Shale Production Other Dry Production 13

14 Economic Contributions of Domestic Shale Gas Nearly $1.9 trillion in shale gas capital investments are expected between 2010 and ,000 jobs supported by the Shale gas industry to grow to 870,000 in 2015 and 1.6 million in Shale gas contribution to GDP to grow from $76 billion in 2010 to $231 billion in Savings from lower natural gas prices may add $926 per year of disposable income per household, Source: The Economic and Employment Contributions of Shale Gas in the United States, IHS Global Insight, America s Natural Gas Alliance, December

15 So What Will This Winter Bring?

16 Gas Prices To Be Lower for Some Utilities On average, wellhead cost of gas declined since the last winter heating season Current price rising, but utilities purchased some gas when prices were lower Avista files to lower Ore. gas supply rates to near 2004 levels NSTAR Gas seeks to lower gas supply rate in Massachusetts $6.00 Wellhead Price of Gas $5.00 $4.00 $3.00 $2.00 $1.00 Forecast Report: 3 NJ utilities to lower gas rates $0.00 Jan 2010 Jan 2022 Jan 2012 Jan 2013 Source: Energy Information Administration Source: SNL Daily Gas Report 16

17 Storage Hits Record Highs 17

18 Drilling Activity Moving From Gas to Liquids 1,800 1,600 Gas Rigs 1,400 1,200 Oil Rigs 1, Source: Baker Hughes: 18

19 Weather is One of the Biggest Influences on Gas Utility Customer Bills In October of 2011, Accuweather predicted yet another brutal winter for Source: Accuweather.com 19

20 So What Happened to the Cold Winter Last Year? Much warmer than normal 20

21 So What Will This Winter Bring? Source: Accuweather.com 21

22 A peek into the future: Average Winter Bill May Change 7% higher than last year The reason: The winter is bound to be colder than last year, overcoming the savings generated by lower prices and increased conservation Specifically: Weather Change -- 14% colder, increases bill Price Change -- 2% lower, reduces bill Conservation Change -- 4% increase, reduces bill Bills will still be among the lowest in the past decade 22

23 Despite Lower Bills, Many Need Help An AGA survey of its members shows that after the winter of : The number of customers disconnected fell 7.5% from the previous year The amount of money in arrears and owed by disconnected customers declined 15% But 2.4% of customers were disconnected The number of customers late on their bills increased slightly to 18% LIHEAP is still critically important to those in need. With the economy in limbo and an increasing number of families falling below the poverty line, all assistance programs are needed. 23

24 A long look into the future

25 U.S. Natural Gas Production, (trillion cubic feet) 30 History 2010 Projections % Shale gas 49% 15 26% Alaska Tight gas 21% 10 2% 9% Non-associated offshore 9% 7% Coalbed methane 5 10% 1% Associated with oil 7% 21% 7% Non-associated onshore 9% Annual Energy Outlook Early Release, Energy Information Administration. 25

26 Quadrillion Btu U.S. Natural Gas Consumption by Sector (EIA, AEO reference Case) Power Generation CNG Pipeline Fuel Lease and Plant Fuel Industrial Commercial Residential

27 Natural Gas Utility Sales Are Flat but Is Growth on the Way? Sales to electricity generators up Most new fossil-fuel plants run on gas Gas prices causing some coal displacement But 2/3 of these deliveries bypass local utilities Industrial sales rising about ½ use local utility systems. Gas sales to residential and commercial customers are flat Will high oil prices give impetus to natural gas vehicles? 27

28 Fossil-Fired Power Generation Source: Energy Information Administration, U.S. Department of Energy. 28

29 Normalized MCF per Year Declining Use per Natural Gas R&C Customer Since Sources: U.S. Energy Information Administration and American Gas Association Note: Data is weather normalized or adjusted to reduce the impact of abnormally warm or cold weather. 29

30 Benefits of Gas Customer Conservation Saves energy 71 Tcf by R&C customers since 1970 Saves money compared to 1970 usage: Residential customers save $620 per year Commercial customers save $1,416 per year Reduces greenhouse gasses Source: Based on data from Energy Information Administration 30

31 Combined Benefits of Gas Customer Conservation and Lower Prices Residential U.S. Average Conservation, using 1970 consumption = $620/yr Price, assuming 2008 levels = $178/yr Total = $798/yr savings compared to $762/yr actually paid Commercial U.S. Average Conservation, using 1970 consumption = $1,416/yr Price, assuming 2008 levels = $1,106/yr Total = $2,521/yr savings compared to $3,618/yr actually paid Source: Based on data from Energy Information Administration 31

32 U. S. Natural Gas and Crude Oil Prices $ per MMBtu Natural Gas - Henry Hub Spot Crude Oil - WTI Spot Source: Energy Information Administration, U.S. DOE. 32

33 U.S. Net Exporter of Natural Gas? Source: Energy Information Administration, U.S. Department of Energy. 33

34 US Natural Gas Import/Export Points Source: Energy Information Administration, U.S. Department of Energy. 34

35 U.S. LNG Export Terminal Projects Jordan Cove (Oregon) proposed 1.2 Bcf/d bi-directional greenfield facility Cheniere (Corpus Christi, TX) proposed 1.8 Bcf/d greenfield facility Gulf Coast LNG (Brownsville, TX) proposed 3.0 Bcf/d greenfield facility Sempra (Cameron, LA) 1.7 Bcf/d at existing regas facility Dominion (Cove Point, MD) 1.0 Bcf/d at existing regas facility BG and Energy Transfer (Lake Charles, LA) 2.1 Bcf/d at regas facility Cheniere (Sabine Pass, TX) 2.2 Bcf/day at existing regas facility Freeport LNG (Freeport, TX) 2.8 Bcf/d at existing regas Recent proposals including Elba Island 0.5 Bcf/d at existing brownfield facility 35

36 Market Stability Resource Abundance Growing Infrastructure This Is Not Your Traditional Natural Gas Industry. 36

37 The American Gas Association, founded in 1918, represents over 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 70 million residential, commercial and industrial natural gas customers in the United States, of which 91% more than 64 million customers receive their gas from AGA members. Today, natural gas meets one-fourth of the United States energy needs. 37

Natural Gas: Winter 2012-13 Abundance! and Some Confusion

Natural Gas: Winter 2012-13 Abundance! and Some Confusion Natural Gas: Winter 2012-13 Abundance! and Some Confusion NASEO Winter Fuels Outlook Washington, D.C. October 10, 2012 Bruce B. Henning Vice President, Energy Regulatory and Market Analysis BHenning@icfi.com

More information

Natural Gas Year-In-Review 2006

Natural Gas Year-In-Review 2006 Natural Gas Year-In-Review 2 This report provides an overview of the natural gas industry and markets in 2 with special focus on the first complete set of supply and disposition data for 2 from the Energy

More information

U.S. Energy Outlook. Oil and Gas Strategies Summit May 21, 2014 New York, NY. By Adam Sieminski, EIA Administrator

U.S. Energy Outlook. Oil and Gas Strategies Summit May 21, 2014 New York, NY. By Adam Sieminski, EIA Administrator U.S. Energy Outlook May 21, 214 New York, NY By Adam Sieminski, EIA Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov The U.S. has experienced a rapid increase

More information

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS I. Summary NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS This brief white paper on natural gas prices is intended to discuss the continued and sustained level of natural gas prices at overall higher levels.

More information

Suzanne Minter. Manager, Oil and Gas Consulting BENTEK Energy. Natural Gas Outlook

Suzanne Minter. Manager, Oil and Gas Consulting BENTEK Energy. Natural Gas Outlook Suzanne Minter Manager, Oil and Gas Consulting BENTEK Energy Natural Gas Outlook North American Natural Gas The Fertilizer Institute November, 2014 2013 Platts, McGraw Hill Financial. All rights reserved.

More information

Annual Energy Outlook 2015

Annual Energy Outlook 2015 For Columbia University New York, NY By Adam Sieminski U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Key results from (AEO215)

More information

Short-Term Energy Outlook

Short-Term Energy Outlook November 2012 Short-Term Energy Outlook Hurricane Sandy resulted in the loss of electric power to about 8.5 million customers on the East Coast and the shutdown of two refineries, major petroleum distribution

More information

Effect of Increased Natural Gas Exports on Domestic Energy Markets

Effect of Increased Natural Gas Exports on Domestic Energy Markets Effect of Increased Natural Gas Exports on Domestic Energy Markets as requested by the Office of Fossil Energy January 2012 This report was prepared by the U.S. Energy Information Administration (EIA),

More information

Oil and Gas U.S. Industry Outlook

Oil and Gas U.S. Industry Outlook Oil and Gas U.S. Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Positive fundamentals & outlook www.eulerhermes.us Key points WTI Crude is expected to continue to converge to Brent crude prices, narrowing

More information

Displacement of Coal with Natural Gas to Generate Electricity

Displacement of Coal with Natural Gas to Generate Electricity Displacement of Coal with Natural Gas to Generate Electricity The American Coalition for Clean Coal Electricity (ACCCE) supports a balanced energy strategy that will ensure affordable and reliable energy,

More information

A View From the Beltway Maine Natural Gas Conference October 9, 2014 Falmouth, Maine. Jeff C. Wright, Director

A View From the Beltway Maine Natural Gas Conference October 9, 2014 Falmouth, Maine. Jeff C. Wright, Director A View From the Beltway Maine Natural Gas Conference October 9, 2014 Falmouth, Maine Jeff C. Wright, Director OFFICE OF ENERGY PROJECTS FEDERAL ENERGY REGULATORY COMMISSION FERC s Organizational Structure?

More information

North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future

North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future North American Natural Gas Midstream Infrastructure Through 2035: A Secure Energy Future Updated Supply Demand Outlook Background Executive Summary June 28, 2011 Sufficient midstream natural gas infrastructure,

More information

Natural Gas Markets in 2006

Natural Gas Markets in 2006 Order Code RL33714 Natural Gas Markets in 2006 Updated December 12, 2006 Robert Pirog Specialist in Energy Economics and Policy Resources, Science, and Industry Division Natural Gas Markets in 2006 Summary

More information

Led by growth in Texas, the Southeast, and Northeast, power burn is headed for a January record

Led by growth in Texas, the Southeast, and Northeast, power burn is headed for a January record EIA - Natural Gas Weekly Update for week ending January 28, 2015 Release Date: January 29, 2015 Next Release: February 5, 2015 In the News: Led by growth in Texas, the Southeast, and Northeast, power burn

More information

Natural Gas Monthly. October 2015. Office of Oil, Gas, and Coal Supply Statistics www.eia.gov. U.S. Department of Energy Washington, DC 20585

Natural Gas Monthly. October 2015. Office of Oil, Gas, and Coal Supply Statistics www.eia.gov. U.S. Department of Energy Washington, DC 20585 Natural Gas Monthly October 2015 Office of Oil, Gas, and Coal Supply Statistics www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the U.S. Energy Information Administration

More information

Understanding. Natural Gas Markets

Understanding. Natural Gas Markets Understanding Natural Gas Markets Table of Contents Overview 1 The North American Natural Gas Marketplace 3 Understanding Natural Gas Markets Natural Gas Demand 9 Natural Gas Supply 12 Summary 25 Glossary

More information

Countdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever

Countdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever Countdown to Natural Gas: Beginning this Year, the Dynamics of the U.S. Natural Gas Market Will Change Forever Alan Lammey, Sr. Energy Markets Analyst Who Is PointLogic Energy? PointLogic Energy provides

More information

One important issue in the debate about expediting the U.S. Department of Energy s LNG permitting

One important issue in the debate about expediting the U.S. Department of Energy s LNG permitting ACCF CENTER FOR POLICY RESEARCH SPECIAL REPORT NOVEMBER 2013 LNG EXPORTS: HOW MUCH WILL THEY IMPACT U.S. NATURAL GAS PRICES? BY MARGO THORNING, PH.D. SENIOR VICE PRESIDENT AND CHIEF ECONOMIST AMERICAN

More information

Shale Gas A Game Changer

Shale Gas A Game Changer Shale Gas A Game Changer CWC World LNG Series: America Summit, Hilde Nafstad, President, Statoil Natural Gas LLC March 17, 2010 Forward looking statements This Operating and Financial Review contains certain

More information

Expanding Natural Gas Service: Opportunities for American Homes and Business

Expanding Natural Gas Service: Opportunities for American Homes and Business Expanding Natural Gas Service: Opportunities for American Homes and Business NARUC Staff Subcommittee on Gas Washington, D.C. February 3, 2013 Bruce B. Henning Vice President, Energy Regulatory and Market

More information

2010 Natural Gas Market Review

2010 Natural Gas Market Review 2010 Natural Gas Market Review August 20, 2010 Submitted to: Ontario Energy Board P.O. Box 2319 2300 Yonge Street 27th. Floor Toronto ON M4P 1E4 Submitted by: ICF International 277 Wellington St. W Toronto,

More information

CERI Commodity Report Natural Gas

CERI Commodity Report Natural Gas January 1 CERI Commodity Report Natural Gas Turm-oil in Natural Gas Markets Paul Kralovic On December 3, 15 the daily spot price at Henry Hub dropped to US$1.3 per MMBtu, its lowest point since December

More information

Oil and Gas Price Forecast Update: Where are Oil and Gas Prices Heading?

Oil and Gas Price Forecast Update: Where are Oil and Gas Prices Heading? RESERVOIR ENGINEERING SOFTWARE & SERVICES Oil and Gas Price Forecast Update: Where are Oil and Gas Prices Heading? Dale Struksnes, Manager - Reserve Evaluations April 13, 2010 Media Commentary on Oil and

More information

Adjusted Estimates of Texas Natural Gas Production

Adjusted Estimates of Texas Natural Gas Production Adjusted Estimates of Texas Natural Gas Production Background The Energy Information Administration (EIA) is adjusting its estimates of natural gas production in Texas for 2004 and 2005 to correctly account

More information

Natural Gas Monthly. May 2016. Office of Oil, Gas, and Coal Supply Statistics www.eia.gov. U.S. Department of Energy Washington, DC 20585

Natural Gas Monthly. May 2016. Office of Oil, Gas, and Coal Supply Statistics www.eia.gov. U.S. Department of Energy Washington, DC 20585 Natural Gas Monthly May 2016 Office of Oil, Gas, and Coal Supply Statistics www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the U.S. Energy Information Administration

More information

Natural Gas Pipeline and Storage Infrastructure Projections Through 2030

Natural Gas Pipeline and Storage Infrastructure Projections Through 2030 Natural Gas Pipeline and Storage Infrastructure Projections Through 2030 October 20, 2009 Submitted to: The INGAA Foundation, Inc. 10 G Street NE Suite 700 Washington, DC 20002 Submitted by: ICF International

More information

LONG-TERM ASSESSMENT OF NATURAL GAS INFRASTRUCTURE TO SERVE ELECTRIC GENERATION NEEDS WITHIN ERCOT

LONG-TERM ASSESSMENT OF NATURAL GAS INFRASTRUCTURE TO SERVE ELECTRIC GENERATION NEEDS WITHIN ERCOT LONG-TERM ASSESSMENT OF NATURAL GAS INFRASTRUCTURE TO SERVE ELECTRIC GENERATION NEEDS WITHIN ERCOT Prepared for The Electric Reliability Council of Texas JUNE 2013 Black & Veatch Holding Company 2011.

More information

Outlook for the North American and Ontario Gas Markets

Outlook for the North American and Ontario Gas Markets Outlook for the North American and Ontario Gas Markets Union Gas Customer Meeting London, Ontario June 5, 2014 Presented by: Frank Brock Senior Energy Market Specialist ICF International Frank.Brock@ICFI.COM

More information

Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist

Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska Remarks by Marianne Kah Chief Economist Cautionary Statement The following presentation includes forward-looking statements.

More information

LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39

LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 For the past few years LNG has experienced high levels of activity and investment in

More information

Global Shale Energy Development: Expanding Economics, Trends, and Implications

Global Shale Energy Development: Expanding Economics, Trends, and Implications Global Shale Energy Development: Expanding Economics, Trends, and Implications New and Historic Energy Direction with Shale Increasing share of U.S. natural gas production. 50%? 70%? (2040) Energy security

More information

Crude Oil and LNG Exports

Crude Oil and LNG Exports Crude Oil and LNG Exports Yale Alumni in Energy Conference April 2015 Claudia Duncan Crude Oil Export Policy - History 1920: Mineral Leasing Act Endows federal government with authority to manage exploration

More information

LNG Imports by Country of Origin (Bcf) LNG Imports by Receiving Terminal (Bcf) LNG Imports by Company (Bcf)

LNG Imports by Country of Origin (Bcf) LNG Imports by Receiving Terminal (Bcf) LNG Imports by Company (Bcf) LNG Imports by Country of Origin (Bcf) 2013 Jan Feb March April May June July Aug Sept Oct Nov Dec TOTAL Egypt 0.0 0.0 0.0 0.0 0.0 0.0 Norway 0.0 0.0 0.0 0.0 0.0 0.0 Qatar 0.0 3.7 3.7 0.0 0.0 7.3 Trinidad

More information

Short-Term Energy Outlook Market Prices and Uncertainty Report

Short-Term Energy Outlook Market Prices and Uncertainty Report February 2016 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: The North Sea Brent front month futures price settled at $34.46/b on February 4 $2.76 per barrel (b) below

More information

Natural Gas Markets Update for the Ethanol Industry. Identifying Market Fundamentals and Managing Price Risk

Natural Gas Markets Update for the Ethanol Industry. Identifying Market Fundamentals and Managing Price Risk Natural Gas Markets Update for the Ethanol Industry Identifying Market Fundamentals and Managing Price Risk Presentation Outline Natural Gas Market Update Demand Issues Supply Issues Implications for Ethanol

More information

Natural Gas Assessment New York State Energy Plan 2009. December 2009

Natural Gas Assessment New York State Energy Plan 2009. December 2009 New York State Energy Plan 2009 December 2009 1 Overview This Assessment describes the workings of the natural gas market in New York and the northeast region, discusses current use and projected need

More information

2009 Avista Natural Gas IRP

2009 Avista Natural Gas IRP 2009 Avista Natural Gas IRP Technical Advisory Committee Meeting May 19, 2009 Portland, Oregon Agenda Introductions & Logistics Avista s IRP Process Demand Forecast Follow Up Supply and Infrastructure

More information

A Case for Midstream Energy

A Case for Midstream Energy Case Studies March 2014 Listed Infrastructure: A Case for Midstream Energy Case Studies is a Cohen & Steers series that evaluates compelling investment themes in our various sectors of expertise. This

More information

First to US Market with trucked compressed natural gas delivered to companies beyond the pipeline. Bennington presentation by NG Advantage LLC

First to US Market with trucked compressed natural gas delivered to companies beyond the pipeline. Bennington presentation by NG Advantage LLC First to US Market with trucked compressed natural gas delivered to companies beyond the pipeline 1 Natural gas is methane same stuff that comes from cow manure CNG is compressed natural gas LNG is liquefied

More information

Assessment of New York City Natural Gas Market Fundamentals and Life Cycle Fuel Emissions

Assessment of New York City Natural Gas Market Fundamentals and Life Cycle Fuel Emissions Assessment of New York City Natural Gas Market Fundamentals and Life Cycle Fuel Emissions Prepared for: New York City Mayor s Office of Long-Term Planning and Sustainability Submitted by: ICF International

More information

Natural Gas Supply and Demand A Delicate Balancing Act. Jack Weixel VP Analysis

Natural Gas Supply and Demand A Delicate Balancing Act. Jack Weixel VP Analysis Natural Gas Supply and Demand A Delicate Balancing Act Jack Weixel VP Analysis First off, who is PointLogic Energy? Full service, energy fundamental data service provider. 30 employees consisting of both

More information

THE ROLE OF LNG IN NORTH AMERICAN NATURAL GAS SUPPLY AND DEMAND

THE ROLE OF LNG IN NORTH AMERICAN NATURAL GAS SUPPLY AND DEMAND THE ROLE OF LNG IN NORTH AMERICAN NATURAL GAS SUPPLY AND DEMAND Michelle Michot Foss, Ph.D. Chief Energy Economist and CEE Head 1650 Highway 6, Suite 300 Sugar Land, Texas 77478 Tel 281-313-9763 Fax 281-340-3482

More information

Outlook for Natural Gas Supply and Demand for 2015-2016 Winter

Outlook for Natural Gas Supply and Demand for 2015-2016 Winter Outlook for Natural Gas Supply and Demand for 2015-2016 Winter Energy Ventures Analysis, Inc. (EVA) Executive Summary Natural gas supplies will be adequate to meet expected demand this winter. This is

More information

June2015. Publishedby: PennsylvaniaPublicUtilityCommision P.O.Box3265 Harisburg,PA 17105-3265 www.puc.pa.gov

June2015. Publishedby: PennsylvaniaPublicUtilityCommision P.O.Box3265 Harisburg,PA 17105-3265 www.puc.pa.gov June2015 Publishedby: PennsylvaniaPublicUtilityCommision P.O.Box3265 Harisburg,PA 17105-3265 www.puc.pa.gov TechnicalUtilityServices PaulT.Diskin,Director Preparedby: MathewP.Stewart,GasReliabilityEngineer

More information

Australia s Natural Gas Opportunity: Fuelling A Manufacturing Renaissance

Australia s Natural Gas Opportunity: Fuelling A Manufacturing Renaissance Australia s Natural Gas Opportunity: Fuelling A Manufacturing Renaissance Fact Sheet 1: September 2012 Supply Constraints Ahead for Gas Natural gas is essential for Australian industry. It is used as an

More information

On October 21, 2008, the Federal Reserve

On October 21, 2008, the Federal Reserve Anticipated Recession Effects Gas Prices Natural Gas Prices in a Recession This is a preprint of an article published in Natural Gas & Electricity 2008, Dec., Wiley Periodicals, Inc. http://www3.interscience.wiley.com/cgi-bin/jhome/105559587

More information

Outlook for Oil and Natural Gas Markets

Outlook for Oil and Natural Gas Markets Outlook for Oil and Natural Gas Markets Helen Currie, PhD Senior Economist Legislative Finance Committee State of New Mexico 09-July-2014 Farmington, New Mexico Cautionary Statement The following presentation

More information

Unconventional Oil and Gas Production Drives Trends in Water Management and Treatment

Unconventional Oil and Gas Production Drives Trends in Water Management and Treatment Unconventional Oil and Gas Production Drives Trends in Water Management and Treatment Jelena Stanic, Global Water Intelligence A research report, Water for the Onshore Oil and Gas, by Global Water Intelligence

More information

Texas: An Energy and Economic Analysis

Texas: An Energy and Economic Analysis Texas: An Energy and Economic Analysis Posted on 9/30/2013 Texas leads the nation in oil and natural gas reserves and production. In just over 2 years, Texas has doubled its oil production with large quantities

More information

Annual Energy Outlook 2004

Annual Energy Outlook 2004 DOE/EIA-0383(2004) January 2004 Annual Energy Outlook 2004 With Projections to 2025 January 2004 For Further Information... The Annual Energy Outlook 2004 (AEO2004) was prepared by the Energy Information

More information

Gulf Natural Gas Region

Gulf Natural Gas Region Gulf Gas Market: Overview and Focal Points Page 1 of 15 Gulf Natural Gas Region Colonial Gas Mainline TX NGPL TXOK Carthage LA Waha Tennessee Zone 0 Katy Freeport Cameron Sabine Pass Henry Texas Eastern

More information

Hedging Natural Gas Prices

Hedging Natural Gas Prices Hedging Natural Gas Prices Luke Miller Assistant Professor of Finance Office of Economic Analysis & Business Research School of Business Administration Fort Lewis College Natural Gas Industry U.S. natural

More information

REVIEW OF NATURAL GAS SUPPLY PORTFOLIO OPTIONS FOR CENTRA GAS CENTRA GAS MANITOBA, INC.

REVIEW OF NATURAL GAS SUPPLY PORTFOLIO OPTIONS FOR CENTRA GAS CENTRA GAS MANITOBA, INC. Page 1 of 106 REVIEW OF NATURAL GAS SUPPLY PORTFOLIO OPTIONS FOR CENTRA GAS Prepared for: CENTRA GAS MANITOBA, INC. Submitted By: ICF INTERNATIONAL 9300 Lee Highway Fairfax, VA 22031 USA (703) 218-2758

More information

Natural Gas / Electricity and the Industrial Sector. The Dismantling of US Manufacturing

Natural Gas / Electricity and the Industrial Sector. The Dismantling of US Manufacturing Natural Gas / Electricity and the Industrial Sector The Dismantling of US Manufacturing Paul Cicio President Industrial Energy Consumers of America August, 2007 Who Are Energy Price Sensitive Industries?

More information

State Heating Oil & Propane Program Final Report Winter 2004/2005

State Heating Oil & Propane Program Final Report Winter 2004/2005 Commonwealth of Massachusetts Division of Energy Resources State Heating Oil & Propane Program Final Report Winter 2004/2005 May 2005 Mitt Romney Governor Kerry Healey Lt. Governor Beth Lindstrom Director,

More information

NATion and north carolina

NATion and north carolina Energy Challenges for the NATion and north carolina NOIA s mission is to secure reliable access to the nation s valuable offshore energy resources in order that they may be developed, produced and supplied

More information

Unconventional oil and gas: outlook, risks, and potential

Unconventional oil and gas: outlook, risks, and potential 20140519_SBC_International Energy Forum - Paper_v05 Unconventional oil and gas: outlook, risks, and potential May 2014 Moscow Table of Contents KEY INSIGHTS... 2 1. UNCONVENTIONAL RESOURCES ARE SIZEABLE

More information

Transforming America s Energy Future. Kentucky. Energy Statistics. Developed by

Transforming America s Energy Future. Kentucky. Energy Statistics. Developed by Transforming America s Energy Future Kentucky Energy Statistics Developed by 2 2 Summary The first edition of Kentucky Energy Statistics is offered by the National Association for State Energy Officials

More information

NATURAL GAS - WHY SO LITTLE RECOGNITION?

NATURAL GAS - WHY SO LITTLE RECOGNITION? NATURAL GAS - WHY SO LITTLE RECOGNITION? Steve Davies Policy Adviser Australian Pipeline Industry Association Overview Natural Gas in Australia Real energy contribution Natural gas can help in many ways

More information

Natural Gas Prices Forecast Comparison - AEO vs. Natural Gas Markets

Natural Gas Prices Forecast Comparison - AEO vs. Natural Gas Markets LBNL-55701 Natural Gas Prices Forecast Comparison - AEO vs. Natural Gas Markets Gabrielle Wong-Parodi, Alex Lekov, and Larry Dale Energy Analysis Department Environmental Energy Technologies Division Ernest

More information

COLORADO OIL AND GAS INDUSTRY

COLORADO OIL AND GAS INDUSTRY COLORADO OIL AND GAS INDUSTRY Updated Economic Assessment of Colorado Oil and Gas Prices Conducted by: BUSINESS RESEARCH DIVISION Leeds School of Business University of Colorado Boulder 420 UCB Boulder,

More information

North America LNG Import Terminals Status: Existing

North America LNG Import Terminals Status: Existing North America LNG Import Terminals Status: Existing Everett Canaport Neptune LNG Existing Terminals U.S. Existing Terminals non U.S. Cove Point Northeast Gateway Golden Pass Lake Charles Elba Island Energia

More information

CONNECTICUT ENERGY PRICE REPORT

CONNECTICUT ENERGY PRICE REPORT CONNECTICUT ENERGY PRICE REPORT 1/15/2015 DENOTES FALLING PRICES COMPARED TO YEAR EARLIER DENOTES FLAT PRICES COMPARED TO YEAR EARLIER DENOTES RISING PRICES COMPARED TO YEAR EARLIER CONNECTICUT RETAIL

More information

DISCUSSION PAPER. Abundant Shale Gas Resources: Long-Term Implications for U.S. Natural Gas Markets. Stephen P.A. Brown and Alan J.

DISCUSSION PAPER. Abundant Shale Gas Resources: Long-Term Implications for U.S. Natural Gas Markets. Stephen P.A. Brown and Alan J. DISCUSSION PAPER August 2010 RFF DP 10-41 Abundant Shale Gas Resources: Long-Term Implications for U.S. Natural Gas Markets Stephen P.A. Brown and Alan J. Krupnick 1616 P St. NW Washington, DC 20036 202-328-5000

More information

Natural Gas: A Bridge to a Low Carbon Future?

Natural Gas: A Bridge to a Low Carbon Future? Date Issue Brief # ISSUE BRIEF Natural Gas: A Bridge to a Low Carbon Future? Stephen P.A. Brown, Alan J. Krupnick, and Margaret A. Walls December 2009 Issue Brief 09 11 Resources for the Future Resources

More information

Crude Oil and Natural Gas Resources and Supply

Crude Oil and Natural Gas Resources and Supply Chapter One Crude Oil and Natural Gas Resources and Supply Abstract Prudent development of North American crude oil and natural gas resources should begin with a reliable understanding of the resource

More information

North American Energy Independence A bump in the road

North American Energy Independence A bump in the road Wealth Management Research October 2015 A bump in the road Nicole Decker Equity Sector Strategist, Energy This report has been prepared by UBS Financial Services, Inc. Please see important disclaimers

More information

Why Natural Gas? Why Now? An overview of Natural Gas and its Benefits

Why Natural Gas? Why Now? An overview of Natural Gas and its Benefits Why Natural Gas? Why Now? An overview of Natural Gas and its Benefits November 13,2013 2013 Energy Solutions Center, All Rights Reserved Natural Gas and its Benefits North American Natural Gas and Projected

More information

Canada s Energy Sector in a Changing Global Market. Kristi Varangu Director, International Energy Division March 10, 2014

Canada s Energy Sector in a Changing Global Market. Kristi Varangu Director, International Energy Division March 10, 2014 Canada s Energy Sector in a Changing Global Market Kristi Varangu Director, International Energy Division March 10, 2014 2 Purpose Illustrate the profound changes that are taking place in global and North

More information

Indiana Utility Regulatory Commission. Natural Gas Forum October 16, 2007

Indiana Utility Regulatory Commission. Natural Gas Forum October 16, 2007 Indiana Utility Regulatory Commission Natural Gas Forum October 16, 2007 1 Today s Objectives Gas Supply Natural Gas Issues Energy efficiency Usage reduction continues Emerging Issues Forecast for Winter

More information

Estimated U.S. household energy costs as percentage of after tax income

Estimated U.S. household energy costs as percentage of after tax income Energy Cost Impacts on American Families Rising electricity prices and declining family incomes are straining the budgets of America s lower- and middle-income families. U.S. households with pre-tax annual

More information

Electricity Analysis Office Electricity Supply and Analysis Division California Energy Commission

Electricity Analysis Office Electricity Supply and Analysis Division California Energy Commission NATURAL GAS PRICE VOLATILITY Randy Roesser Electricity Analysis Office Electricity Supply and Analysis Division California Energy Commission Presented at: California Energy Commission Sacramento, CA June

More information

OUR CONVERSATION TODAY

OUR CONVERSATION TODAY OUR CONVERSATION TODAY Our goal is to raise the level of awareness around the natural gas supply chain among key stakeholders in order to facilitate positive working relationships and more informed decision

More information

Natural Gas, Electricity and CHP

Natural Gas, Electricity and CHP Natural Gas, Electricity and CHP Evaluating and Marketing CHP May 18, 2005 Joel Bluestein www.eea-inc.com (703) 528-1900 Overview Natural Gas Background Electricity Rate Background Gas, Electricity and

More information

Winter 2013-14 Energy Market Assessment Report to the Commission

Winter 2013-14 Energy Market Assessment Report to the Commission Winter 2013-14 Energy Market Assessment Report to the Commission Docket No. AD06-3-000 October 2013 Disclaimer: The matters presented in this staff report do not necessarily represent the views of the

More information

CRS Report Summaries WORKING DRAFT

CRS Report Summaries WORKING DRAFT CRS Report Summaries R40147 Green Buildings This is a definition and analysis of the cost and benefits of green buildings. It also cites agencies and laws that encourage the building of environmentally

More information

U.S. LNG Exports: Impacts on Energy Markets and the Economy. May 15, 2013. Submitted by: ICF International 9300 Lee Highway Fairfax, VA USA

U.S. LNG Exports: Impacts on Energy Markets and the Economy. May 15, 2013. Submitted by: ICF International 9300 Lee Highway Fairfax, VA USA U.S. LNG Exports: Impacts on Energy Markets and the Economy May 15, 2013 Submitted by: ICF International 9300 Lee Highway Fairfax, VA USA ICF Contact Harry Vidas 703-218-2745 Submitted to: American Petroleum

More information

The Role of Natural Gas in Texas and America CEA Meeting August 24 th, 2010

The Role of Natural Gas in Texas and America CEA Meeting August 24 th, 2010 The Role of Natural Gas in Texas and America CEA Meeting August 24 th, 2010 About ANGA Our Mission America's Natural Gas Alliance exists to promote the economic, environmental and national security benefits

More information

Canadian Natural Gas Exports and Promotion of Cleaner Energy in the US Market

Canadian Natural Gas Exports and Promotion of Cleaner Energy in the US Market Canadian Natural Gas Exports and Promotion of Cleaner Energy in the US Market UNFCCC Workshop on Cleaner or Less Greenhouse Gas-emitting Energy May 7-8, 2002, Whistler, B.C. Rick Hyndman, PhD School of

More information

TTIP The Energy Conundrum Cheap or Clean?

TTIP The Energy Conundrum Cheap or Clean? TTIP The Energy Conundrum Cheap or Clean? Vasile Iuga 16 October 2015 Current position EU US Energy Demand Flat Growing Dependency on Imports 53% and growing 400 bln / annum Net export by 2017 Domestic

More information

Natural Gas Prices and LNG's Dirty Little Secret

Natural Gas Prices and LNG's Dirty Little Secret Natural Gas Prices and LNG's Dirty Little Secret by G. Allen Brooks Parks Paton Hoepfl & Brown Musings from the Oil Patch Optimism about the ending of the U.S. recession and its impact on future demand

More information

Capturing Methane to Fuel Drilling Operations

Capturing Methane to Fuel Drilling Operations Breaking Energy INFRASTRUCTURE, OIL & GAS, REGULATION Capturing Methane to Fuel Drilling Operations By EDWARD DODGE on January 27, 2015 at 12:00 PM Methane emissions from oil and gas production have become

More information

Scenario Study: Natural Gas Prices Deflating

Scenario Study: Natural Gas Prices Deflating WWW.IBISWORLD.COM November 2012 1 November 2012 Scenario Study: Natural Gas Prices Deflating By Antonio Danova What if the price of natural gas bucked its trend of steady growth? And what industries would

More information

Presentation to the State of Alaska Legislature. Liquid Natural Gas (LNG) NPV Analysis and Results

Presentation to the State of Alaska Legislature. Liquid Natural Gas (LNG) NPV Analysis and Results Presentation to the State of Alaska Legislature Liquid Natural Gas (LNG) NPV Analysis and Results June 9, 2008 Key Conclusions LNG Projects Have Higher Capital Costs and Therefore Greater Risk than a Pipeline

More information

Creating more Value out of Storage

Creating more Value out of Storage Creating more Value out of Storage By Gary Howorth, Founder Energy-Redefined Introduction Gas Storage is a complicated business which carries with it large risks and potentially low rewards. Assets can

More information

The Effect of Natural Gas Supply on Retail Electricity Prices

The Effect of Natural Gas Supply on Retail Electricity Prices Date Issue Brief # I S S U E B R I E F The Effect of Natural Gas Supply on Retail Electricity Prices Karen Palmer, Dallas Burtraw, Matt Woerman, and Blair Beasley August 2012 Issue Brief 12-05 Resources

More information

March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY

March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY March 2015 MEGATRENDS IN THE OIL AND GAS INDUSTRY Cautionary Statement The following presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues,

More information

CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH

CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH CBRE CLARION SECURITIES MASTER LIMITED PARTNERSHIPS: GLOBALIZATION OF ENERGY MARKETS LEADING TO SECULAR GROWTH MAY 2014 201 King of Prussia Road, Suite 600 Radnor, PA 19087 USA T. 610.995.2500 www.cbreclarion.com

More information

Remarks of Terrance J. Fitzpatrick President and CEO Energy Association of Pennsylvania March 10, 2011

Remarks of Terrance J. Fitzpatrick President and CEO Energy Association of Pennsylvania March 10, 2011 Informational Committee Meeting on the Natural Gas Industry Before the Consumer Affairs Committee Pennsylvania House of Representatives Remarks of Terrance J. Fitzpatrick President and CEO Energy Association

More information

High Prices Show Stresses in New England Natural Gas Delivery System

High Prices Show Stresses in New England Natural Gas Delivery System February 7, 2014 High Prices Show Stresses in New England Natural Gas Delivery System Abstract. Since 2012, limited supply from the Canaport and Everett liquefied natural gas (LNG) terminals coupled with

More information

Regulators Reconsider Utility Hedging Policies Given Shifts In Natural Gas Flow

Regulators Reconsider Utility Hedging Policies Given Shifts In Natural Gas Flow RESEARCH North America Fossil Fuels Natural Gas Regulators Reconsider Utility Hedging Policies Given Shifts In Natural Gas Flow Utilities Prioritize Price Stability Over Cost Reduction In Fuel Procurement

More information

Natural Gas and LNG Fundamentals

Natural Gas and LNG Fundamentals Natural Gas and LNG Fundamentals ExxonMobil Gas & Power Marketing Taking on the world s toughest energy challenges. This presentation includes forward-looking statements. Actual future conditions (including

More information

Natural Gas & Energy Efficiency: Keys to Reducing GHG Emissions

Natural Gas & Energy Efficiency: Keys to Reducing GHG Emissions Natural Gas & Energy Efficiency: Keys to Reducing GHG Emissions Janet Gail Besser, Vice President, Regulatory Strategy NARUC 120 th Annual Convention November 17, 2008 New Orleans, Louisiana Overview 1.

More information

DOE Announces Fundamental Shift in LNG Export Authorization Policy

DOE Announces Fundamental Shift in LNG Export Authorization Policy 5 June 2014 Practice Groups: Liquefied Natural Gas Oil & Gas Energy, Infrastructure and Resources Energy DOE Announces Fundamental Shift in LNG Export Authorization Policy By David L. Wochner, Sandra E.

More information

Energy Projections 2006 2030 Price and Policy Considerations. Dr. Randy Hudson Oak Ridge National Laboratory

Energy Projections 2006 2030 Price and Policy Considerations. Dr. Randy Hudson Oak Ridge National Laboratory Energy Projections 2006 2030 Price and Policy Considerations Dr. Randy Hudson Oak Ridge National Laboratory There is perhaps no single current topic so potentially impacting to all life on this planet

More information

Three Hot Commodity Stocks For 2016

Three Hot Commodity Stocks For 2016 $49.00 $49.00 Three Hot Commodity Stocks For 2016 Energy Markets In Distress Ask anyone who watches the energy markets religiously, and they ll tell you the same thing... The price of oil and natural gas

More information

Natural Gas and the U.S. Fertilizer Industry

Natural Gas and the U.S. Fertilizer Industry Natural Gas and the U.S. Fertilizer Industry Harry Vroomen Vice President, Economic Services The Fertilizer Institute July 15, 2010 www.tfi.org Outline of Presentation Brief Intro on Fertilizer Focus on

More information

14 th U.S. China Oil & Gas Industry Forum

14 th U.S. China Oil & Gas Industry Forum 14 th U.S. China Oil & Gas Industry Forum Shaolin Li PetroChina International (America) Inc. 1 Outline U.S. Energy Industry Changes and Trends U.S. LNG Export Outlook and Policy Issues China Natural Gas

More information

Cheap Natural Gas and U.S. Reindustrialization BY JASON M. THOMAS

Cheap Natural Gas and U.S. Reindustrialization BY JASON M. THOMAS Economic Outlook April 30, 2012 Cheap Natural Gas and U.S. Reindustrialization BY JASON M. THOMAS At just over $2 per million British Thermal Units (BTUs), natural gas seems exceptionally cheap. The price

More information

ECONOMIC OUTLOOK. Quantifying the Shale Gas Revolution s Impact on U.S. Industrial Energy Consumption MAY 2014

ECONOMIC OUTLOOK. Quantifying the Shale Gas Revolution s Impact on U.S. Industrial Energy Consumption MAY 2014 MAY ECONOMIC OUTLOOK Quantifying the Shale Gas Revolution s Impact on U.S. Industrial Energy Consumption THE CARLYLE GROUP 1001 PENNSYLVANIA AVENUE, NW WASHINGTON, DC 20004-2505 202-729-5626 WWW.CARLYLE.COM

More information