Economics of Alaska North Slope gas utilization options Page: 82 of 253
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Table 4.1. Comparative forecasts of world oil prices (EIA, 1995).
1995 dollars per barrel
Forecast 2000 2005 2010
AE095 reference 19.76 22.21 24.92
AEO95 low price 13.97 14.72 15.13
AE095 high price 21.85 25.36 29.95
DRI 20.86 25.76 29.31
WEFA 19.58 21.26 22.30
IEA 23.94 29.14 29.14
GRI 19.40 - 21.44
PEL 16.65 25.62 15.62
NRC 25.25 26.35 26.35
CEC 21.99 24.23 26.68
Table 4.2. World Gas Statistics (BP, 1995; OGJ, 1995i).
Reserves Production R/P
(TCF) (TCF) Ratio
North America 311 24.8 12.5
Latin America 189 2.5 76.1
Western Europe 216 8.4 25.8
Former Soviet Union 1976 23.7 83.4
Middle East 1594 4.5 354.5
Africa 341 2.6 131.0
Asia and Australia 350 7.0 49.7
TOTAL 4978 73.5 67.7
The natural gas reserves and/or resources, which are located far from major markets (usually referred
to as remote gas), face a significant transportation disadvantage. To get to markets, remote gas must usually
be liquefied either by conversion to LNG or by one of the chemical conversion processes (GTL) discussed
in Section 3. To date, LNG has been the primary means used to move natural gas to distant markets. The
LNG business has been built primarily around two geographical pairings; the North Africa to Europe trade
and the Asia/Australia supply of Japanese markets. As Figure 4.3a and Figure 4.3b show, these two trades
account for most of the current world LNG traffic. The Asia/Australia trade has experienced the most robust
growth, growing at an average 7% per year between 1984 and 1995. North African export has grown at 4%
per year during the same period.
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Thomas, C. P.; Doughty, T. C.; Hackworth, J. H.; North, W. B. & Robertson, E. P. Economics of Alaska North Slope gas utilization options, report, August 1, 1996; United States. (https://digital.library.unt.edu/ark:/67531/metadc678645/m1/82/: accessed March 19, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.