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To: tom pope who wrote (103340)6/20/2008 8:30:07 AM
From: GVTucker  Respond to of 206192
 
It all goes back to LNG.

Production is up, and demand is down. So why is storage so much lower than last year? Because LNG imports have dropped sharply. Prices are just not high enough here.

Of course, that can be a double-edged sword. If Euro and Asian demand drop a bit and gas prices follow, LNG imports here could surge back to 2007 levels and even go much higher.