Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Posted: Tue Mar 18, 2008 9:56 pm Post subject: Natural gas demand
The demand for NG is exploding in Asia. European demand is also growing but demand growth in Europe is slight compared to Asia. Increasing NG use has become a priority for the Chinese government in order to reduce the nation's dependence on coal burning but China is not the only growing market. Japan, South Korea and others are gas hungry countries.
Japanese Mitsui and Mitsubishi have become partners in Sakhalin Energy in order to secure there own LNG for there power plants in Japan. Shell expects to find spot market buyers in Japan, South Korea and other Asian nations for there Sakhalin LNG.
China has become a contracted buyer of LNG from Shell Australia. China is already a spot market buyer of LNG from the Nigerian operations. Australias Northwest Shelf Venture is now a major source of hope for China. Shell China has been placed in charge of several gas projects including a Coalbed Methane project.
Indian Gas Authority has become a partner in the Meditteranean Named project in order to secure LNG for there plants in India.
With runaway economic growth in China, vietnam and other Asian nations and steady growth of 6% per year in india energy demand is naturally rising.
Northwest Shelf Venture, Sakhalin Project and others, how long will these new sources be able to supply an ever increasing demand. Time will tell.
Joined: Mar 07, 2007 Posts: 282 Location: Holland, United Kingdom (of the seven Netherlands)
Posted: Wed Mar 19, 2008 5:20 am Post subject: Re: Natural gas demand
vampyregirl wrote:
The demand for NG is exploding in Asia. European demand is also growing but demand growth in Europe is slight compared to Asia.
You are forgetting that production in Europe and North America has peaked or will soon peak. Europe and North America will be rapidly increasing their imports of LNG from overseas. They will want a growing share of the gas offered on the world market.
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