In the early 1980's an excess supply of Natural Gas was established in the U.S. due to the Natural Gas Pricing Act (NGPA) of 1978. In our last two papers we documented how this excess supply aided in keeping Natural Gas prices low until it disappeared and the subsequent lack of supply led to higher prices. There continues to be much talk around the importation of LNG and how it will affect the U.S. Gas Market. In this paper we will examine how LNG imports have changed, the relationships between pricing and supply, the historic value of U.S. gas production and what New Trends are being established in the market. This paper should help the oil and gas developer understand the market influences that result in the price he receives for his product.

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