A group of senior government energy officials from the U.S., Canada and Mexico has released its findings, "North American Natural Gas Vision," resulting from two years of work on examining steps each country can take to achieve natural gas goals. The group, North American Energy Working Group, was formed in 2001 at the request of leaders of each country while recognizing that their gas markets are interrelated and their combined daily demand may grow by 21.2 billion cubic feet (Bcf) by 2012. Total demand by that year is forecast to be 93.8 Bcf a day, with the U.S. market accounting for 79% of that number. The study finds that meeting this demand will be challenging. Increases in conventional gas supply appear unlikely. Bottlenecks in production, transportation and storage infrastructure-and the related regulatory framework-need to be remedied in each country. There should be some alternative gas sources. U.S. coalbed-methane (CBM) production is expected to grow from 4.1 Bcf a day in 2002 to 4.7 Bcf a day by 2010. Canadian CBM production is forecast to grow from less than 0.5 Bcf a day currently to 1.4 Bcf a day by 2015. Meanwhile, liquefied natural gas imports are expected to grow from about 1.1 Bcf a day now to as much as 13 Bcf daily by 2025. The full report is available at energy.gov.
Recommended Reading
1Q24 Dividends Declared in the Week of April 29
2024-05-03 - With earnings season in full swing, upstream and midstream companies are declaring quarterly dividends. Here is a selection of dividends announced in the past week.
OGInterview: Building EIV Capital’s Midstream Investment Strategy
2024-05-01 - Midstream-focused EIV Capital has added non-operated assets and transition projects to its portfolio as a sign of the times.
Dividends Declared in the Week of May 6
2024-05-10 - Here is a selection of upstream, midstream and service and supply companies’ dividends declared in the past week.
Canadian Natural Resources Boosting Production in Oil Sands
2024-03-04 - Canadian Natural Resources will increase its quarterly dividend following record production volumes in the quarter.
Moda Midstream II Receives Financial Commitment for Next Round of Development
2024-03-20 - Kingwood, Texas-based Moda Midstream II announced on March 20 that it received an equity commitment from EnCap Flatrock Midstream.