The Arctic region announced that it may hold enough natural gas to meet current global demand for 14 years and most of it belongs to Russia, which could accentuate the country’s dominant role in the industry, U.S. geologists said. For full story, click here
US imports of liquefied natural gas have almost doubled since the commencement of the year, putting pressure on a domestic market already hit by weak demand and dipping prices . For full story, click here
The U.S. Energy Information Administration declared that it has expected domestic natural gas production in 2009 to decline from 2008 levels, the first annual output drop since 2005. For full story, click here
The U.S. Commerce Department declared that it opposed a proposed massive floating liquefied natural gas terminal in Long Island Sound. For full story, click here
There has been a steep dip in the number of rigs drilling for natural gas in the United States slowed last week, with the total dropping just two to 808, as per report issued on Friday by oil services firm Baker Hughes Inc in Houston. For full story, click here
U.S. gross natural gas production in January dipped slightly from December levels but was still up 4.5 percent from the same year-ago month. For full story, click here
Natural gas inventories in the U.S. surged last week despite expectations for a drop, as stockpiles remained well above historical levels. For full story, click here
Industry sources reported that Bahrain plans to triple its production of natural gas and crude oil. Bahrain’s National Oil and Gas Authority has signed an agreement with the U.S. firm Occidental Petroleum and the United Arab Emirate’s Mubadala Corp. for the development of the Bahrain Field. For full story, click here
With plunge in industrial consumption, much of US natural gas this summer is going into storage. Industrial gas demand makes up for about one third of the total demand which has now plummeted due to financial crisis. For full story, click here
U.S. natural gas futures surged more than 5 percent on Thursday, lifted by a larger-than-expected weekly drawdown from winter inventories and a big jump in crude futures. For full story, click here
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