LNG North American Summit 2008 Houston, Texas June 19, 2008 James M. Kendell Energy Information Administration U.S. Natural Gas.

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Presentation transcript:

LNG North American Summit 2008 Houston, Texas June 19, 2008 James M. Kendell Energy Information Administration U.S. Natural Gas Storage and The Global LNG Market

Natural Gas Consumption, 2000–2008 (Billion cubic feet per day) Source: International Energy Agency, Monthly Gas Data Service OECD North America OECD Europe OECD Asia

World Underground Working Storage Capacity, 2006 (Trillion cubic feet) Sources: Cedigaz, Underground Gas Storage in the World, June 2006; Energy Information Administration, Office of Energy Markets and End Use 17% of Annual Gas Consumption 1% 16% 14%

Working Gas in U.S. Underground Storage, Source: Energy Information Administration, Office of Oil and Gas, Natural Gas Monthly April 2008.

U.S. Natural Gas Production and Imports, Source: Energy Information Administration, Office of Oil and Gas, Natural Gas Monthly April Production Imports

Source: Energy Information Administration, Office of Oil and Gas, Natural Gas Monthly April U.S. LNG Imports by Season, (Billion cubic feet per day)

U.S. LNG Imports and U.S./U.K. Price Differentials, Note: Import volumes for December 2007 and January 2008 are estimates. Source: Import data: DOE Office of Fossil Energy; Price data: EIA, derived as National Balancing Point spot price minus Henry Hub spot price. U.S. LNG Imports U.S./U.K. Price Differentials

Note: MMcf/d = million cubic feet per day Source: Energy Information Administration, GasTran Gas Transportation Information System, Natural Gas Pipeline Projects Database. Major Natural Gas Pipeline Corridor Expansions,

U.S./U.K. Price Differentials, Source: Energy Information Administration – History: derived as the National Balancing Point spot price minus the Henry Hub spot price; June 2008 – June 2009: IPE forward price minus NYMEX price for future delivery at the Henry Hub. History Differences in Forward Prices, +/- 1 Standard Deviation Future

Natural Gas Spot Price at the Henry Hub and Volatility, Source: Derived by Energy Information Administration, Office of Oil and Gas.

Source: Wood Mackenzie's Global LNG Online Service, Wood MacKenzie, Ltd; Shell Oil, as presented at the Energy Information Administration’s 2008 Conference, Washington D.C., April 6-7, (Proceedings available at Today2012 LNG Importers1729 LNG Exporters1518 Importers, Exporters, and World Liquefaction Capacity,

Source: Andrew Flower LNG Associates, as presented at the Energy Information Administration’s 2008 Conference, Washington D.C., April 6-7, (Proceedings available at World LNG Short-term Trades,

HistoryPotential Source: Capacity: Energy Information Administration, GasTran Gas Transportation Information System, Natural Gas Pipeline Projects Database. Consumption: Short-Term Energy Outlook, May 2008 Underground U.S. Natural Gas Storage Working Gas Capacity and Consumption,

U.S. LNG Imports, 2005–2009 Source: Energy Information Administration. History derived from Office of Fossil Energy data; Forecast: Short-Term Energy Outlook, June 2008 (Billion cubic feet per Month) 2007 = 771 Bcf 2008 = 531 Bcf 2009 = 850 Bcf HistoryForecast

James M. Kendell Energy Information Administration Recurring Publications: Annual Energy Outlook 2008, April 2008 (early release) Short-Term Energy Outlook, monthly International Energy Outlook 2007, May 2007 Special Reports: U.S. Natural Gas Imports and Exports: Issues and Trends 2006, February 2008 U.S. Underground Natural Gas Storage Developments: , October 2006 Estimate of Maximum Underground Working Gas Storage Capacity in the United States: 2007 Update, October 2007