Limited demand for natural gas could keep 9 Bcf/d of production off the market over the next four years, a Bentek Energy LLC executive told an audience in Pittsburgh on Tuesday.
At current rig counts and production rates, Bentek believes total domestic production could grow 14 Bcf/d through 2015, largely on the back of seven major unconventional plays, Jack Weixel, manager of energy market fundamentals for Bentek, said at the Northeast Shale Gas Symposium. In Pennsylvania alone -- one state in one basin -- Bentek expects 4 Bcf/d of growth through 2015.
Under the constraint of existing demand, though, Bentek sees growth of 5.4 Bcf/d by 2015. "There's not enough demand to support that other 9 Bcf/d of growth" and without increases, "you're basically going to blow up storage and you're going to drive the price of gas to 25 cents," Weixel said.
That demand growth is possible, though, he said.
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