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GLG News by this Author

ALGERIA WILL NEED ALL THE NATURAL GAS IT CAN GET

October 8, 2009

Analysis of:Total to Develop the Timimoun Gas Project in Algeria | www.youroilandgasnews.com

Algeria is building two new pipelines to Europe under the Mediterranean Sea, therefore, new natural gas supplies are required.

Tiber Discovery Will Not Imact Global Supply & Demand for Oil

September 4, 2009

Analysis of:BP strikes oil in Gulf of Mexico | timesofindia.indiatimes.com

The 'Tiber' discovery by BP in the Gulf of Mexico will not have any impact on the global supply and demand for crude oil all by itself. By the time it comes on-stream in the later part of the next decade numerous other oil fields would have been depleted and it will only help in keeping the decline rate from decreasing rapidly. However, if we consider the numerous other discoveries and projects now in the planning stages, there could be less demand for imported crude oil in the US.

NATURAL GAS PRICES CONTINUE TO SLIDE

September 4, 2009

Analysis of:Industry worries rise as natural gas sags | www.chron.com

Spot prices fell at all market locations in the lower 48 States, with decreases ranging between 7 and 68 cents per million Btu (MMBtu). The price at the Henry Hub spot market fell to $2.25 per MMBtu, decreasing by 51 cents or 18 percent. At the NYMEX, the natural gas futures contract for October delivery decreased by 58 cents to $2.715 per MMBtu. Working gas in underground storage rose to 3,323 Bcf, with inventories exceeding the 5-year (2004-2008) average for this time of year by about 18%.

DIVERSIFICATION OF GAS SUPPLY IS GOOD FOR EUROPE

September 1, 2009

Analysis of:Industry worries rise as natural gas sags | www.chron.com

Europe has been needed to diversify its sources of clean-burning natural gas. Russia has cut off the supply of natural gas on two occasions on a price dispute with transit country Ukraine.Gas from North Africa will begging to decline when the Qatar natural gas pipeline becomes operational. Minor impact on Russia.

NO REACTION IS REQUIRED BY INDIA’S ENERGY GIANTS

August 31, 2009

Analysis of:Australia, India sign AUD 25 billion Gorgon LNG Deal | www.sindhtoday.net

Despite a recent slowing economy, India’s energy demand continues to increase. Energy demand in the transport sector is expected to be particularly high. While thee global financial crisis have slowed economic growth, the GDP growth rate was 5.3% in 2008. With high rates of economic growth and over 15% of the world’s population, India has become a significant consumer of energy resources, and in 2008, India was the sixth largest oil consumer in the world.

No threat to Europe by Chinese Wind Initiative

August 28, 2009

Analysis of:China’s Huge Wind Initiative | www.windenergynews.com

While China plans to invest $18 billion in renewable energy projects in the near-term, the Europeans plan to invest € 400 billion during the next decade on renewable energy projects under the ‘Desertrc’ Initiative.

Natural Gas Prices to remain low in the near-term

August 27, 2009

Analysis of:Natural gas price sinks to lowest in 7 years | www.theglobeandmail.com

Natural gas spot prices declined again this week with the largest decreases occurring in the western half of the US. The Henry Hub spot price decreased by $0.34 to $3.02 per MMBtu. At the NYMEX, futures prices decreased as supplies continued to be viewed as more than adequate to address near-term demand, including heating-related demand. Working gas in underground storage is estimated to have been 3,204 billion cubic feet (Bcf), which is 19.1 percent above the 5-year (2004-2008) average.

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