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Nordic American Tankers Limited Message Board

  • gookempucky gookempucky Feb 6, 2003 10:25 PM Flag

    nat gas

    Washington (Platts)--6Feb2003

    The third straight storage withdrawal above 200 Bcf -- 208 Bcf in the week ending Jan 31 -- sent the year-over-year deficit up another 19%, the US Energy Information Administration reported Thursday. Working gas in storage nationwide now totals 1.521 Tcf. The deficit from the year-ago level climbed to 811 Bcf from 681 Bcf the prior week.
    EIA reported withdrawals last week of 141 Bcf in the east region, to 805 Bcf (1.324 Tcf a year ago), 11 Bcf in the west region, to 285 Bcf (269 Bcf a year ago), and 56 Bcf in the producing region, to 431 Bcf (738 Bcf a year ago). The deficit from the five-year average grew to 287 Bcf from 190 Bcf last week. EIA's five-year average showed a withdrawal of 111 Bcf and a total working-gas volume of 1.808 Tcf.

    In the same week a year ago, 78 Bcf was withdrawn to lower stocks to 2.332 Tcf, according to EIA's figures. Two years ago, 95 Bcf was withdrawn to lower storage to 1.238 Tcf. Three years ago, a 209-Bcf withdrawal dropped storage volumes to 1.647 Tcf. Four years ago, a 74-Bcf withdrawal lowered storage to 2.099 Tcf. Five years ago, a 99-Bcf drawdown reduced storage volumes to 1.724 Tcf.

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    • Gookempucky - You have an interest in LNG. What are your thoughts on Bergesen or Golar?

      • 1 Reply to h20scott
      • Scott Bergesen in the lng movement is currently small compared to glng-the bergesen fleet will be 9 vessels but as of now only three are operating with 2 at 29k cbm and the recent newbuild delivery of the berge boston at 138,000-3vessels due in 05-1 vessel in 06-1 vessel in 04 with the last in fall of this year. Bergesen stock does not trade in america.

        Golar currently has 10 vessels of an average capacity 138,000-with 2 newbuilds due out this year with 2 due out in 2004-these will be under contract within abu dhabi and will probably average 70-110k $ per day ws.
        This will put the fleet at 14 vessels and make golar the largest independent operator of lng vessels.Operating cost's have been slowly coming down as indicated cost numbers are now around 2.60 usd per mmbtu-shooting for around 1.90 to be on even ground with upstreaam drillers.
        A simple calculation; trade from algeria-lake charles-using henry hub price of 1.50 us/mmbtu equals a T/C rate of 16.00 us$ per day.
        With the opening of one west coast terminal would equal demand capacity of 8-10 vessels-currently the shortfall in tonnage is running around 45-60 vessels.
        Growth expectations for lng have grown from 83 million tons annually to 105 in 2001.
        Current trade flows for lng vessels number roughly 38 in the atlantic basin with around 90 in the asia/pacific basin.
        Keep lng on your watch list.

        the gookempucky
        check the link below



        http://reports.huginonline.com/883485/111016.pdf

    • Where does BP get their oil? Where does BP ship their oil? Who are the buyers? What ports do they use? How will the Iraq conflict affect NAT?

      • 2 Replies to luckybucks1234
      • bear in mind, between charters in, relets out, time charters, spot charters, different sizes, different routes, etc. - BP probably signs between 250-500 shipping-related contracts a year.
        NAT is 3 ships of one size class - this deal means nothing in BP's overall global transportation profile.

      • These questions should be encompassed into one question;
        Where isnt BP ??

        currently in over 80 countries their global envelope covers everything from renewables to lng. BP has and is now a full delivery chain services company from upstream-downstream and shipping requirements (supply and trading) is that arm of BP. Has recently started emissions trading-no joke.
        Your best bet is go to BP website as I do not have the time to write 5000 pages-good hunting.
        Iraqi conflict will have minimal affect on NAT except for the fact oil production will be halted until the conclusion of the conflict and that the wells do not become part of the colateral damage. The cancelation of oil exports will shift ul-vl tonnage to the other side of the continent-africa-med- currently ws has been dropping as demand is still waining globally and tonnage remains strong.
        My opinion is that the global recovery will not happen until oil gets back to 18 a barrel.
        Kansas city gas pump price just went to 1.55/9 today-how is it in everyone elses neck of the woods?

        the gookempucky

 
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