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Benjamin · 08-03-2006, 15:12

EIA Lowers Natural Gas Demand And Price Forecasts For 06
03-07-06

The U.S. Energy Information Administration lowered its expectations for both natural gas supply and prices for 2006 in its short-term energy outlook released Tuesday.

The agency said it expected the benchmark U.S. natural gas price at the Henry Hub to average $8.11 per thousand cubic feet in 2006 , down from its projection a month earlier of $8.74/mcf. Futures prices on the New York Mercantile Exchange have been falling over this period and settled at a nine month low Monday of $ 6.547 per million British thermal units, off nearly 60% from their December peak.

The EIA lowered its estimate of how much gas was produced in 2005 and now says it dropped by 3.2%, revised up from its earlier estimate of a 2.7% drop. For 2006 it sees output growth of 2.2% , down from its earlier estimate of 3.0%.

"Recovery in natural gas-intensive industrial output following the 2005 hurricanes is expected to contribute to growth in industrial gas demand this year (4.3%) and in 2007 (1.5%)," the agency wrote in its report.

The EIA's demand estimate for the fourth quarter of 2005 was cut by 1.5% and the forecast for the first quarter of 2006 was cut by 1.2%, owing mainly to mild winter weather. This year saw the mildest January for the contiguous U.S. states since reliable records have been kept.

The agency said that the average U.S. winter natural gas heating bill will be $126 or 17% higher than for the previous season. A month earlier, the agency had estimated that it would be $178 or 24% higher.

Liquefied natural gas imports are projected to increase from their 2005 level of 630 bcf to 830 bcf in 2006. LNG imports in 2007 are expected to reach 1,030 bcf. By 2007, this would equal 4.7% of total U.S. gas supply, up from 2.9% last year.

08-03-2006, 15:12	#34
Benjamin TBB Family Registriert seit: Mar 2004 Beiträge: 10.374	EIA Lowers Natural Gas Demand And Price Forecasts For 06 03-07-06 The U.S. Energy Information Administration lowered its expectations for both natural gas supply and prices for 2006 in its short-term energy outlook released Tuesday. The agency said it expected the benchmark U.S. natural gas price at the Henry Hub to average $8.11 per thousand cubic feet in 2006 , down from its projection a month earlier of $8.74/mcf. Futures prices on the New York Mercantile Exchange have been falling over this period and settled at a nine month low Monday of $ 6.547 per million British thermal units, off nearly 60% from their December peak. The EIA lowered its estimate of how much gas was produced in 2005 and now says it dropped by 3.2%, revised up from its earlier estimate of a 2.7% drop. For 2006 it sees output growth of 2.2% , down from its earlier estimate of 3.0%. "Recovery in natural gas-intensive industrial output following the 2005 hurricanes is expected to contribute to growth in industrial gas demand this year (4.3%) and in 2007 (1.5%)," the agency wrote in its report. The EIA's demand estimate for the fourth quarter of 2005 was cut by 1.5% and the forecast for the first quarter of 2006 was cut by 1.2%, owing mainly to mild winter weather. This year saw the mildest January for the contiguous U.S. states since reliable records have been kept. The agency said that the average U.S. winter natural gas heating bill will be $126 or 17% higher than for the previous season. A month earlier, the agency had estimated that it would be $178 or 24% higher. Liquefied natural gas imports are projected to increase from their 2005 level of 630 bcf to 830 bcf in 2006. LNG imports in 2007 are expected to reach 1,030 bcf. By 2007, this would equal 4.7% of total U.S. gas supply, up from 2.9% last year.