U.S. gas demand expected to grow

Gary Park, Petroleum News Calgary correspondent

Duke Energy Gas Transmission forecasts that demand growth for natural gas in the United States will grow by 2 percent a year, especially in the west, south and southeast. The company also believes traditional North American sources of gas should be able to grow at a rate of 2 billion cubic feet per day over the next five years, with Canada contributing two-thirds.

Duke rates northeastern British Columbia as a leading potential supply source, with considerable growth coming from the lower Northwest Territories and southern Yukon.

The company noted that a 2002 analysis by the Inter-state National Gas Association concluded the industry will need to invest US$60 billion between now and 2015 to meet market growth expectations.