In recent history, gas prices have generally followed a relatively seasonal pattern with prices rising during the summer driving season and falling after Labor Day. However, 2010 has seen a reversal in this pattern; the national average price has risen by 30 cents per gallon since Labor Day, the largest increase over that period since the 1990 inception of Energy Information Agency (EIA) weekly published retail gasoline price data. The current average price range in the US for the third week of December of approximately $2.98 per gallon is the second highest on record, eclipsed only by the 2007 average price reaching $3.00 per gallon.
Prices are expected to rise, initially pushed higher by increased gas demand for cooling, as Senior Meteorologist Joe Bastardi of AccuWeather.com predicted this summer to be the “hottest summer since 2005 for much of the nation” and later from increased demand in industrial and power generation.
The country may end the year or commenced next year with an additional supply of locally produced natural gas. For full story, click here
The Gas Authority of India Limited has made preparations to supply natural gas to industries in the Pune industrial belt to help them generate their own power. Industries in Talegaon, Chakan and Pune region are expected to benefit from this plan. For full story, click here
Industrialist Anil Ambani’s energy firm, locked in a legal battle with his elder brother Mukesh Ambani’s Reliance Industries Ltd over supply of natural gas from the Krishna-Godavari basin, Tuesday told the latter that the government had no role to play in the dispute. For full story, click here
The supply of Piped Natural Gas is finally on way to the city. The authorities are working overtime to raise its reach to about 500 homes in the city by June 15 and by December 31, 5,000 houses are supposed to be brought under its ambit. For full story, click here
It is declared that in recent years gas consumption in China has surged sharply and so it has become critically important to improve the energy supply throughout the country. To accomplish this, China is accelerating exploitation of domestic resources and importing oil and gas from nearby Russia and Central Asia. For full story, click here
The government of India declared that it may develop a national gas highway network to ensure supply of natural gas across the country. For full story, click here
In an energy-packed punch charged with natural gas, the city seems to have discovered a way of consolidating its would lead to lesser overdraws and cheaper supply. Finance secretary Sanjay Kumar stated: Right now, they’re focussing on the demand in Delhi. For full story, click here
Reliance Industries has announced that it has resolved almost all issues with fertiliser firms and is set to start natural gas supplies from the company’s KG-D6 fields in the east coast of India once the agreements with the respective companies are signed. For full story, click here
Thursday, December 23, 2010