US producer group predicts another summer of tight gas supplies
Washington (Platts)--8Jun2004
Projected warmer-than-normal weather, a strengthening economy and flat production are likely to keep US natural gas prices high "as we enter yet another summer of tight natural gas markets," according to an analysis released Tuesday by the Natural Gas Supply Assn. "Last year, the National Petroleum Council warned that without significant change to the tight balance between supply and demand, wholesale natural gas customers would continue to see weather-related volatility -- and that is precisely what's coming to pass," said NGSA Chairman Joseph Blount. "Overall market costs are also likely to trend upward throughout this cooling season, peaking during the hottest days of the year." Blount said gas producers "are responding to increased demand, but we are working harder and harder just to keep production levels constant . . . . Unfortunately, though, there is little short-term relief ahead for customers." NGSA did not make specific gas price projections.
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