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LNG, the way to go, Hamworthy pumps.
Anne Flicker - Tue, 27 Dec 05 :
Natural Gas plumetting in the US.
Natural Gas Has Biggest Drop in Almost 3 Years on Low Demand
Dec. 27 (Bloomberg) -- Natural gas futures plunged 10 percent, the largest one-day drop in almost three years, as warmer-than-normal weather slashed demand for the furnace fuel.
``The long-range forecast is for more warm weather,'' said Michael Rose, director of the trading desk at Angus Jackson Inc. in Fort Lauderdale, Florida. ``There's no doubt about it. When it's cold in New York, the prices go higher, and when it's warmer, prices go lower.''
U.S. heating demand will run 30 percent below normal for the next week and 22 percent below normal from Jan. 2 to Jan. 6, according to Weather Derivatives, a Belton, Missouri-based forecaster. New York will have a low tomorrow night of 41 degrees Fahrenheit (5 Celsius), the National Weather Service said. That's 13 degrees above normal.
Gas for January delivery fell $1.261 to $11.022 per million British thermal units on the New York Mercantile Exchange. The 10 percent drop was the biggest fluctuation of any commodity today and the largest one-day decline for gas futures since March 3, 2003. Prices are down 30 percent from a record $15.78 per million Btu on Dec. 13 and are the lowest since Sept. 13.
Prices pushed below the 100-day moving average of $12.11 per million Btu during the session, a move considered significant by technical analysts, who use charts and graphs to help make investment decisions. Gas briefly dipped below the average last week before rebounding.
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