Apr 26, 2012

US natgas hovers near 10-year low driving chemical industry boom #energy, #jobs

US natgas hovers near 10-year spot low under $2/mmBtu
(Reuters) - U.S. natural gas futures were little changed in early trading Friday, hovering near Thursday's 10-year spot chart low under $2 per million British thermal units as mild spring weather and record supplies hung over the market.



Cheap natural gas feeds chemical industry boom
The shale boom's bounty of cheap natural gas is fueling an industrial renaissance on the Texas coast, one that was in full focus Thursday as Dow Chemical announced the latest piece of a $4 billion expansion of its chemical operations in Southeast Texas.

The $1.7 billion plant Dow announced Thursday, one of four it plans to build or expand at its Freeport complex, is aimed at taking advantage of cheap natural gas produced from shale, which the company expects to be available for the long term.