EIA Reports
The Energy Information Administration (EIA) has posted both its Short-Term Energy and Winter Fuels Outlook for October 2009 and a report on new pipeline capacity added to the U.S. pipeline network in 2008. The Outlook notes, for example:
The Henry Hub spot price averaged $3.06 per Mcf in September, $0.17 per Mcf below the average spot price in August. Spot prices fell early in September then moved higher as pipeline maintenance reduced available supply and natural-gas-fired electric generators increased demand. * * * Prices are expected to increase in 2010 but, even with a projected winter storage withdrawal greater than the 5-year average, end-of-March inventories still will be the highest recorded since March of 1991. * * * EIA expects the Henry Hub spot price to average $3.85 per Mcf in 2009 and $5.02 per Mcf in 2010.
It also notes that EIA is now tracking uncertainty in futures prices and the market’s assessment of the range in which those futures prices might trade, and will report confidence intervals around NYMEX crude oil and natural gas futures prices.
EIA's report on pipeline capacity notes that there were 84 projects completed in 2008, adding 44.6 Bcf per day of capacity and close to 4,000 miles of new line. Graphically:
