US gas price recovery not seen until 2010

摘要

US analysts generally agree that a real recovery in the price of matural gas is unlikely until 2010, but differ on the impact of both the falling rig count and power generators switching from coal to gas. Jefferies & Co. analyst Subash Chandra said declining rig counts will not help as much as expected since historically gas volumes didn't fall much in prior gas "busts." Chandra said in past demand busts, underlying decline rates fell about 30%, while gas volumes declined only modestly at best.