GDF Suez Exec sees 2011 global natural gas supply above demand
PARIS – Natural gas prices are likely to remain depressed next year because of a high level of supply compared with demand in the industry, GDF Suez executive vice president Jean Marie Dauger said Monday.
"Again in 2011, supply will be higher than demand," Dauger said at an energy conference in Paris, noting that "this gas bubble has a pressuring impact on prices".
The downward movement in prices is due to lower demand after the economic recession and a peak in investments in the industry, he added.
As gas consumption picks up in the next few years prices are likely to begin stabilizing, starting to do so by the end of 2011, and "reaching a more reasonable level in 2013," Dauger also said.
Gas demand has already started to recover in some parts of the world like Asia, but the economic recovery in the industrial sector has not been strong for now, he added.
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