26 April 2024
Cheap US gas drives consumer fuel switching, but producers must adapt
Publication date: 19 April 2012
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The very different supply and demand-side implications of cheap, plentiful US natural gas were a hot topic at the Flame conference in Amsterdam on Wednesday. Howard Gruenspecht, acting administrator for the EIA, told delegates the EIA expects US gas consumption to rise 4% in 2012, driven by fuel-switching in power sector. But producers struggling to cope with low prices must “adapt their strategies or die”, Mike Stice, CEO of Chesapeake Midstream Partners, said.