CERAWeek: CERA's big thinkers on gas issues

Some of CERA’s big thinkers are sharing their thoughts in a panel discussion during lunch. Here are some of their comments:
Thane Gustafson: As you’re tracking events ahead, keep an eye on this one: the battle for the Russian ruble. The Russian Central Bank was aware the dollar was appreciating last year but thought it was for short-term reasons, so they didn’t act decisively to protect the Ruble. But the trend has continued.
“They’ve spent $200 billion out of their $500 billion nest egg trying to defend the ruble,” Gustafson said.
Michael Stoppard: He describes a “triple whammy:”
“The LNG supply surge is coming,” he said, in 2009 and will hit the market in the second half of the year. Supply will go up and supply equals demand. The question is where will it be going?
The second item: Unconventional gas in North America. CERA has a better handle on the shale gas protentional and has upgraded projection of output by 2016 form 69 BCF day to 80 BCF day.
Third item: The economic crisis and impact on demand for gas, particularly for power.
“There will be a well-supplied gas market in the short-term” and more LNG making it to the U.S., Gustafson said.
“Sounds to me like a silver lining looking for a cloud,” said CERA’s David Hobbs, noting that the LNG surge will come when U.S. domestic supplies will also be going strong.