Technologies, Inc. Releases This Years AnnualTProjected Energy
Production and Imports Report.
on: March 13, 2008, 4:09 am
Release Author: Additron
Technologies, Inc./Alexander Chen
Release Summary: Alexander Chen, of Additron Technologies, Inc.
reports that "Net imports of energy are expected to continue
to meet a major share of total U.S. energy demand".
Release Body: TOKYO, Japan, March 13, 2008, -- In 2007, the net
import share of total U.S. energy consumption is slightly less than
fuel prices over the projection period (2008-2030) are expected
to spur increases in domestic energy production and to moderate
the growth in demand, tempering the projected growth in imports.
The projection for U.S. crude oil production in 2008 is higher than
in 2007, primarily due to more production from the expansion of
enhanced oil recovery (EOR) operations and, to a lesser extent,
higher crude oil prices.
projected crude oil production in 2008 increases from 5.1 million
barrels per day in 2006 to a peak of 6.4 million barrels per day
in 2019, with production increases from the deep waters of the Gulf
of Mexico and from onshore EOR projects.
production subsequently declines to 5.6 million barrels per day
in 2030, as increased production from new smaller discoveries are
inadequate to offset the declines in large fields in Alaska and
the Gulf of Mexico.
domestic liquids supply, including crude oil, natural gas plant
liquids, refinery processing gains, and other refinery inputs (e.g.,
ethanol), generally increases throughout 2008, as growth in CTL
production offsets the decline in crude oil production after 2019.
domestic liquids supply grows from 8.2 million barrels per day in
2006 to 10.2 million barrels per day in 2030.
2008, the net import of total liquids supplied, including crude
oil and refined products, drops from 60 percent in 2006 to 55 percent
in 2010, stays relatively stable through 2020, and then increases
to 59 percent in 2030.
crude oil imports in 2030 are 1.3 million barrels per day lower,
and net product imports are 0.3 million barrels per day lower, in
2008 than in 2007.
primary reason for the difference between 2008 and O2007 projections
for net imports of liquid fuels is the lower level of total liquids
consumption in 2030 in 2008.
Total domestic natural gas production, including supplemental natural
gas supplies, increases from 18.6 trillion cubic feet in 2006 to
20.2 trillion cubic feet in 2021 before declining to 19.9 trillion
cubic feet in 2030.
projections are lower in 2007, primarily because of the higher costs
associated with exploration and development and, particularly in
the last decade of the projection, lower demand for natural gas.
In 2008, lower 48 offshore natural gas production shows a pattern
similar to that in 2007, growing from 3.0 trillion cubic feet in
2006 to a peak of 4.5 trillion cubic feet in 2019 as new resources
come online in the Gulf of Mexico.
2019, lower 48 offshore production declines to 3.5 trillion cubic
feet in 2030. After a small near-term increase, onshore conventional
production of natural gas in 2008 declines steadily, as it did in
Onshore production of unconventional natural gas in AEO2008 is expected
to be a major contributor to growth in U.S. supply, increasing from
8.5 trillion cubic feet in 2006 to 9.5 trillion cubic feet in 2030.
2007, most of the increase in unconventional production is projected
to come from gas shale, which more than doubles over the projection,
from 1.0 trillion cubic feet in 2006 to 2.3 trillion cubic feet
The Alaska natural gas pipeline is expected to be completed in 2020
because of delays in the resolution of issues between Alaska’s
State government and industry participants.
the pipeline goes into operation, Alaska’s total natural gas
production increases to 2.0 trillion cubic feet in 2021 (from 0.4
trillion cubic feet in 2006) and then to 2.4 trillion cubic feet
in 2030 as the result of a subsequent expansion.
The pipeline connecting the MacKenzie Delta in Canada to the United
States is not constructed in the AEO2008 reference case, unlike
in AEO2007, because cost estimates recently filed by the industry
substantially exceed the estimates in 2007, and as a result the
project is not economical with 2008 prices.
pipeline imports of natural gas from Canada and Mexico, predominantly
from Canada, fall from 2.9 trillion cubic feet in 2006 to 0.5 trillion
cubic feet in 2030.
difference in projections for 2030 is largely a result of increased
exports to Mexico.
higher level of exports to Mexico is the result of a lower assumed
growth rate for Mexico’s natural gas production.
imports from Canada also decline, reflecting resource depletion
in Alberta and Canada’s growing domestic demand, which are
offset in part by increases in unconventional natural gas production
from coal seams and tight formations.
net imports of liquified natural gas (LNG) to the United States
increase from 0.5 trillion cubic feet in 2006 to 2.9 trillion cubic
feet in 2030, as compared with 4.5 trillion cubic feet in 2030..
lower projection is attributable to two factors: higher costs throughout
the LNG industry, especially in the area of liquefaction, and decreased
U.S. natural gas consumption due to higher natural gas prices, slower
economic growth, and expected greater competition for supplies within
the global LNG market.
U.S. LNG re-gasification capacity increases from 1.5 trillion cubic
feet in 2006 to 5.2 trillion cubic feet in 2009 with the addition
of five new re-gasification facilities that are currently under
construction (four along the Gulf Coast and one off the coast of
global LNG supply constraints, overall capacity utilization at the
U.S. LNG import facilities is expected to remain under 35 percent
through 2013, after which it is expected to increase to 57 percent
in 2017 and remain in the range of 55 to 58 percent through 2030.
The future direction of the global LNG market is one of the key
uncertainties with many new international players entering LNG markets,
competition for the available supply is strong, and the supplies
available to the U.S. market may vary considerably from year to
market dynamics could change considerably as worldwide LNG markets
As domestic coal demand grows, U.S. coal production increases at
an average rate of 1.1 percent per year, from 23.8 quadrillion Btu
(1,163 million short tons) in 2006 to 31.2 quadrillion Btu (1,595
million short tons) in 2030 reference case. Production from mines
west of the Mississippi River provides the largest share of the
incremental coal production.
a Btu basis, 60 percent of domestic coal production originates from
States west of the Mississippi River in 2030, up from an estimated
49 percent in 2006.
Typically, trends in U.S. coal production are linked to its use
for electricity generation, which currently accounts for 91 percent
of total coal consumption.
growth in overall electricity demand, combined with more generation
from nuclear and renewable energy, underlies the reduced outlook
for electricity sector coal consumption.
These are projections only.
Details: Additron Technologies Inc.
Shen Xiang Road, Zhu Jia Jiao Town
Qing Pu Area, Postalcode: 201714
Investor Relations: firstname.lastname@example.org
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