U.S. industry long on natural gas, say experts at steel conference

Thursday, June 07, 2012

North American natural gas producers will be challenged over the next several years to find outlets for their continuously growing production, according to industry experts speaking Thursday at the 3rd Annual Platts Steel Business Briefing's Shale Play Tubulars conference in Pittsburgh.

The US is currently long on natural gas by about 2.8 Bcf/day, said Bentek Energy client services director Jack Weixel. Considering demand is off by about 0.3 Bcf/d, the US is really long by about 3.1 Bcf/d, he said.

Although production is likely to slow in the near term because of low prices, Bentek forecasts overall production will grow by about 2.2 Bcf/day each year, reaching 74.9 Bcf/day by 2017.

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