Edit ModuleShow Tags

2003 Production Up, Demand Down


Published:

Early estimates indicate that natural gas production increased by about 2.1 percent in 2003. Natural gas production is expected to continue to expand modestly through 2005, as natural gas well completions, which totaled an estimated 20,000 in 2003, continue to grow to between 21,000 and 22,000 wells per year over the next 2 years. Natural gas demand is expected to have declined by 3.7 percent in 2003 largely because high prices discouraged demand in the industrial and electric power. However, expected growth in the economy, along with somewhat lower projected annual average prices, are expected to increase demand by about 2.2 percent in 2004. Demand in 2005 is expected to increase by 1.1 percent as the economy continues to expand and prices ease slightly.

Edit ModuleShow Tags

Archive »Archive »

J-W Energy Exits Midstream, Upstream Markets

J-W Energy Co. has sold all of its oil and gas and midstream assets to affiliates of Aethon United LP, signaling an end to the company’s run in the upstream and midstream markets.

Siemens To Power The Missing Link

Siemens received an order from the Trans Adriatic Pipeline consortium for six, 15 MW turbo compressor trains. The equipment will be used in the Trans Adriatic Pipeline (TAP), which is part of the Southern Gas Corridor in Europe.

Caterpillar Releases New Displays For Gas Compression Engines

Caterpillar Oil & Gas has introduced its latest operator interface displays for Cat gas compression engines.

EIA: Natural Gas Prices Dip After Steady Increases

At most locations, natural gas spot prices dropped over the June 29 to July 6 report week, according to the U.S. Energy Information Administration (EIA).

Panama Canal Expansion Boosts Global LNG Flow

The newly expanded Panama Canal can handle 90% of the world’s liquefied natural gas (LNG) vessels, with an LNG-carrying capacity up to 3.9 Bcf (0.11 X 109 m3), according to the U.S. Energy Information Administration (EIA).