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Natural Gas Makes the Future Work. Jenny Fordham Director of Energy Markets & Government Affairs Natural Gas Supply Association Presented to the Interstate Municipal Gas Agency April 28, 2009. Outline. Natural Gas in Relation to Other Commodities Today’s Market Fundamentals

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natural gas makes the future work

Natural Gas Makes the Future Work

Jenny Fordham

Director of Energy Markets & Government Affairs

Natural Gas Supply Association

Presented to the Interstate Municipal Gas Agency

April 28, 2009

outline
Outline
  • Natural Gas in Relation to Other Commodities
  • Today’s Market Fundamentals
  • Natural Gas: Jobs, Revenue & Environment
slide3

Same story, different commodities

Natural gas at low end of rising commodity tide

Coal

Crude Oil

Soybeans

Wheat

Corn

Copper

Gold

Natural Gas

Silver

Coal

Crude Oil

Soybeans

Wheat

Corn

Copper

Gold

Natural Gas

Silver

Commodity Price Changes Since January 2007

Source: CME Group, A CME/Chicago Board of Trade Company

major u s shale basins hold potential for 30 bcf d roughly half of u s production
Major U.S. Shale Basins Hold Potential for 30 Bcf/d; Roughly Half of U.S. Production

Source: North American Natural Gas Supply Assessment Navigant Consulting, Inc. & EIA

6

natural gas oil e p provides billions annually in government revenue
Natural Gas, Oil E&P Provides Billions Annually in Government Revenue
  • U.S. Treasury:
    • $6.6 Billion in 2007
    • $17.1 Billion in 2008
  • States:
    • $1.6 Billion in 2007
    • $2.2 Billion in 2008
u s lng import capacity growing imports lag due to world competition
U.S. LNG Import Capacity Growing; Imports Lag Due to World Competition

Bcf/day

U.S. Import Capacity

U.S. Imports

Source: EIA Annual Energy Outlook 2008 & EVA

slide7

http://www.ferc.gov/market-oversight/othr-mkts/lng/othr-lng-wld-pr.pdfhttp://www.ferc.gov/market-oversight/othr-mkts/lng/othr-lng-wld-pr.pdf

9

http://www.ferc.gov/market-oversight/othr-mkts/lng/othr-lng-wld-pr.pdf

9

canadian imports slowing
Canadian Imports Slowing

Bcf/day

Source: EVA

10

rig count decline demonstrates supply following demand
Rig Count Decline Demonstrates Supply Following Demand

50%

Source: EIA Monthly Energy Review, December 2008 & EIA Natural Gas Weekly Update (4/9/09)

industrial sector demand rebounded in 2008 industrial sector most elastic
Industrial Sector Demand Rebounded in 2008; Industrial Sector Most Elastic

Tcf

Source: EVA & Annual U.S. Natural Gas Industrial Consumption, EIA

5 8 million blue jobs
5.8 Million Blue Jobs
  • Natural gas and oil industry provides 5.8 Million Blue Jobs
    • 1.8 Million Direct
    • 4 Million Indirect
  • E&P Jobs Pay More Than 2x National Average
  • Natural gas and oil industry provides nearly $300 Billion annually in labor income (API PWC Study, 2007)
natural gas is key ingredient in everyday products
Natural Gas Is Key Ingredient in Everyday Products
  • Manufacturers Consume One-third of Natural Gas to Make Products
  • Additional Jobs Associated with Those Products
  • Oil & Natural Gas Industry Contributes $570 Billion to Economy Annually (Source: API PWC Study, 2007)
natural gas has a long term role to play
Natural Gas Has a Long-term Role to Play

Source: EIA 2009 Energy Outlook

market chooses natural gas for variety of reasons emissions
Market Chooses Natural Gas for Variety of Reasons: Emissions

Tons annually per 1,000 households

market chooses natural gas for variety of reasons cost
Market Chooses Natural Gas for Variety of Reasons: Cost

$ millions per 1,000 households (2007)