The concept of deferred salary must be assessed in this light I will table an amendment to this effectRuined by his manager and companion read the view at pThe recession has put an end to this state of affairsChoirs on the other hand is directly movingThis is done and Thomson can now move forwardHowever no new restructuring were announcedIt does not generate a structural deficitStarting for part of its lost time beig did not lose hisTurmoil is still felt throughout the worldMemory of gas, the phenomenon is unprecedented. For the first time since the 1960s, the demand for natural gas is back in the world. So far, this fossil had grown as solid as regular, with an increase in the consumption of 4 on average between 1965 and 2007. The economic crisis has swept this beautiful building. According to the International Energy Agency (IEA), the IMF and the US Department of energy, world gas consumption should fall by about 2 in 2009, after having increased by 2.5 the previous year. In the northern hemisphere, the winter was yet more rigorous in 2007 - 2008, which argued the gas demand of heating. But the collapse of the production of very greedy energy such as automotive, chemistry, or the steel sectors led a brutal fall in demand for gas for industrial use in the United States, the Japan and in Europe ( 8), which is not offset by emerging countries.
These figures are however not unanimous. Cedigaz association provides a decline in global gas consumption of 3.5 to 4 in 2009. In a recent study, Booz & Company goes even further. At the end of talks with gas producers, the consulting company announces a drop in world demand of 8 in 2009! Consumption in the industrial sector should she fall by 13 this year in the world and may even decline by 17 in the OECD countries. In this context, Booz & Company provides a new decline of the world in 2010, although less important application. This lower consumption obviously has an impact on prices.
In the United States, they are now about 4 dollars per million BTU ("british thermal unit"), more than 7 dollars last September. The global gas market became a buyer market. And the phenomenon is all the more important that the sector will have to absorb a substantial increase in the production of liquefied natural gas (LNG) capacity in the years to come. In Total, more than 85 million additional tonnes of capacity of liquefaction should arrive on the market by 2011, an increase of 40 over existing capabilities.
Interest of storage sites
This fall in the price of gas has a significant impact on the strategy of producers and gas operators. In the United States, unconventional gas, such as Chesapeake Energy producers, have decided to reduce their production until better days. A break from the unbridled two years growth. This type of gas, which is not in conventional tanks but in low porous rocks, accounted for 45 of us production in 2007.
The price decline also grow gas operators to increase purchases of gas on the spot over contracts markets long term. It also boosted the interest of storage sites. Since the beginning of the year, operators have sought to use these infrastructures up to await the decline in the price of long-term gas contracts. The award of these contracts, which are indexed to the price of oil with a six month delay, should reach a low point in June-July, according to Cedigaz. Medium term, this decline in prices should finally have an impact on the consumption of power plants. The "utilities" compare permanently gas prices to those of the fuel oil and coal. In the coming months, they would turn more and more gas to produce electricity.
