Gas Supply and Demand
These are my general notes on recent events. Contact me for details
Nov 2002
Western Canada storage is at 188.6 Bcf (88.5% of capacity) significantly higher than same time last year.
US production decline expected to drop 7% in 2002 - from 52 Bcf to 47 Bcf/d. No significant supply relief until LNG imports or MacKenzie Delta Pipeline built.
Ladyfern - max production 700 Mmcf/d in mid 2001. Expected to decline to 100 Mmcf/d by end 2003.
Dec 2002
Chevron-Texaco planning LNG receiving facility on Gulf Coast (800Mmcf/d increasing to 1.6Bcf/d).
Canada's Natural gas exports down 4.9% in first 10 months of 2002 (3.07Tcf vs 3.23Tcf).