Companies See Two-Tier World Gas Market til 2014

Oil and energy companies said that there will be an overage of gas supplies until 2014.  There was a decrease in demand for gas due to the financial and economic crisis in 2008 so gas prices have collapsed.

Jean-Jacques Mosconi, head of strategy for Total SA (TOTF.PA) is quoted saying:

“Gas faces a bubble — especially in the Atlantic Basin.  It is coming from the economic crisis plus a surge of unconventional gas production from the United States.”

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