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The U.S. Natural Gas Market in Focus

The U.S. Natural Gas Market in Focus. for Flame 2012 April 17, 2012 | Amsterdam, The Netherlands by Howard Gruenspecht, Acting Administrator. Current and Projected Supply and Demand Conditions. U.S. natural gas storage has reached an unprecedented high for this time of year.

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The U.S. Natural Gas Market in Focus

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  1. The U.S. Natural Gas Market in Focus for Flame 2012 April 17, 2012 | Amsterdam, The Netherlands by Howard Gruenspecht, Acting Administrator Current and Projected Supply and Demand Conditions

  2. U.S. natural gas storage has reached an unprecedented high for this time of year Billion Cubic Feet Billion Cubic Meters Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  3. U.S. natural gas spot prices are very low compared to prices in other regions and oil prices Sources: EIA, Bloomberg, as of April 10, 2012 Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  4. Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  5. Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  6. Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  7. Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  8. Foreign joint venture investment in U.S. shale gas and tight oil plays Source: EIA, from trade press reports as of 27 February 2012 Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  9. Technically recoverable natural gas resources reflect updated assessments U.S. dry gas resources trillion cubic feet *Alaska resource estimates prior to AEO2009 reflect resources from the North Slope that were not included in previously published documentation. Source: EIA, Annual Energy Outlook Unproved shale gas Unproved other gas (including Alaska* and offshore) Proved reserves (all types and locations) 2,214 482 1,460 273 AEO Edition Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  10. The average delivered price of coal to electricity generators varies widely across U.S. regions – transport costs are a key reason 2010 Delivered coal prices, $ per million Btu $3.41 $2.02 $2.96 $2.01 N/A $1.51 $1.49 N/A $2.48 $2.91 $1.75 $1.57 $1.46 1.77 $2.45 $3.65 $1.83 $1.93 $1.83 $3.40 $1.91 $4.46 Source: EIA, Annual Energy Outlook 2012 Early Release Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  11. Natural gas consumption is quite dispersed; electric power and industrial use drives much of the future demand growth U.S. dry gas consumption trillion cubic feet per year *Includes combined heat-and-power and lease and plant fuel. **Includes pipeline fuel. Source: EIA, Annual Energy Outlook 2012 Early Release History Projections Electric power 34% 31% 32% Industrial* 33% 13% 13% Commercial 3% 3% Transportation** 18% 21% Residential Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  12. Electricity mix gradually shifts to lower-carbon options, led by growth in renewables and natural gas electricity net generation trillion kilowatthours per year Source: EIA, Annual Energy Outlook 2012 Early Release 2010 27% Natural gas 24% 16% Renewables 10% 39% Coal 45% 20% 18% Oil and other liquids Nuclear 1% 1% Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  13. Shale gas offsets declines in other U.S. natural gas production sources U.S. dry gas production trillion cubic feet per year Source: EIA, Annual Energy Outlook 2012 Early Release History Projections 2010 49% Shale gas 23% 26% Tight gas 21% 9% Non-associated offshore 9% 7% Coalbed methane 10% 7% Associated with oil 7% 21% Non-associated onshore 1% 2% 9% Alaska Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  14. Oil to natural gas price ratio remains high over the projection ratio of oil price to natural gas price Source: EIA, Annual Energy Outlook 2012 Reference Case History 2009 Projections Oil and natural gas prices 2010 dollars per million Btu History 2009 Projections Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  15. Domestic natural gas production grows faster than consumption U.S. dry gas trillion cubic feet per year Source: EIA, Annual Energy Outlook 2012 Early Release History Projections 2010 Consumption Domestic supply Net imports Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

  16. U.S. Energy Information Administration home page | www.eia.gov Short-Term Energy Outlook | www.eia.gov/steo Annual Energy Outlook | www.eia.gov/aeo International Energy Outlook | www.eia.gov/ieo Monthly Energy Review | www.eia.gov/mer For more information EIA Information Center InfoCtr@eia.gov Our average response time is within three business days. (202) 586-8800 24-hour automated information line about EIA and frequently asked questions. Flame - The U.S. Natural Gas Market in Focus, Howard Gruenspecht, April 17, 2012

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