July 2006

Special Report: LNG and GTL Developments

Natural gas and LNG trade - a global perspective

New dynamics within the gas industry will accelerate its ability to eclipse oil as the premier fuel of the world economy

Economides, M. J., Chemical Engineering Dept., University of Houston; Mokhatab, S., Consultant; Wood, D. A., David Wood & Associates

Oil prices have been very volatile on the upside. However, oil prices are nothing compared to the natural gas (NG) price roller coaster. Why is NG now selling for about $7/million Btu (or Mcf, 1,000 cubic ft) when just a few weeks ago it was over $16? Given the short supply caused in part by hurricanes in the Gulf of Mexico and strong demand, some analysts were convinced that the $20 NG would be common on the US East Coast no later than Christmas Eve 2005. Of course, that didn't happen. Blame or credit warmer weather, NG prices fell. So what are the forces in play here? We believe that price is no longer the defining issue for the NG market. Supply is. And supply issues are causing major p

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