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Cost pressure, demand seen boosting US gas price

07/19/2010
The price of natural gas in the US will increase to $6.50-7/MMbtu by 2015 because of cost pressure and rising demand, a Wood Mackenzie analyst told a conference in Denver.Jen Snyder, principal natural gas analyst at the firm, said cost pressure will come from service costs and margins, competition with oil projects for rigs to drill horizontal wells, and an overall higher-cost economy.In addition, producers will have to move toward higher-cost resources."The core, low-cost unconventional gas plays—Marcellus, Haynesville, and Barnett—will continue to grow," Snyder said at the Energy Epicenter Conference. "But within a few years, as the pace of demand growth accel...
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