No Hot Air

No Hot Air: "The only logical alternative is world markets, where NBP winter 2010 is already trading at well over $7MMBTU. Even $5 is a substantial improvement for both European consumers and North American producers. Last years $4 gas went to below $3. It will go there again. But exports can provide a bounce back. Stuck in the middle will be European consumers between the mammoth Qatar volumes coming to market this winter and at a minimum North American re-exports of recycled Trinidad, Peru and Nigeria cargoes that get parked at US LNG terminals. And if Qatar is worried about that, it's clear that if the Gulf Coast can export, then virtual and subsequent physical exports straight from the Marcellus to the world via Cove Point LNG in Baltimore will prove that shale gas will change the world."