September 2001

Trends and Resources

HP Impact: HPImpact: Are depressed natural gas prices here to stay?

A.M. SAMSAM BAKHTIARI, NIOC, Tehran, Iran Winter 2000 – 2001 was a watershed for natural gas prices in the U.S. For the first time ever, they came to surpass crude oil prices on a relative Btu-ba..

Weirauch, Wendy, Hydrocarbon Processing Staff

A.M. SAMSAM BAKHTIARI, NIOC, Tehran, Iran Winter 2000 – 2001 was a watershed for natural gas prices in the U.S. For the first time ever, they came to surpass crude oil prices on a relative Btu-basis. The 'Henry Hub spot' shot to over $10/MMBtu, while the 'West Texas Light Intermediate' (WTI) languished in the $4 to $5/MMBtu bracket (Fig. 1).1  Fig. 1     Comparison of natural gas and crude oil prices in the U.S. on a relative Btu basis. By early January 2001, gas stood at a 120% premium to oil: nothing short of a revolution for natural gas prices – hitherto always at a disc

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