Thursday, May 24, 2007

Eastern Australia Natural Gas Use, Prices Jump as Drought Cuts Coal Power

(Bloomberg) -- Eastern Australian natural gas
consumption and prices jumped in the first quarter as drought
cut production from hydropower and coal-fired generators,
EnergyQuest said.

Gas production in eastern Australia rose 20 percent in the
first quarter compared with a year earlier, the Adelaide-based
consulting firm said yesterday in a report. The average spot gas
price in Victoria state surged 27 percent to A$3.38 ($2.76) a
gigajoule, it said.


Read more at Bloomberg Energy News

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