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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Dennis Roth who wrote (25457)	9/21/2003 10:40:22 AM
From: Dennis Roth	Read Replies (4) of 206084

Record LNG imports in May tonto.eia.doe.gov 42,791 MMcf, a new record. YTD, 150,595 MMcf compared to 71,070 MMcf in the first five months of 2002 and 112,705 over the same period in 2001. They seem to be trying to get caught up with the monthly figures. They posted April's numbers 8/28 and May's 9/15. I've looked at Coast Guard POSIX records and the pace of LNG ship visits to US Ports remains strong. IMHO, the importance of LNG imports is not that it is some kind of Silver Bullet solution to nat gas supply problems but that it will place a floor price on natural gas prices. When prices are low, imports dry up as spot cargos go elsewhere in search of higher prices. When North American prices are relatively high, we suck up spare cargos from around the world. This is in contrast to much of the domestic supply where producers tend to keep producing even when prices collapse. As LNG imports becomes a larger part of the North American market, the ability of LNG import volume to swing rapidly in response to market prices help stabilise the price and tend to keep the range of prices in a more narrow band than at present. JMHO.

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