As 2007 moves to a close, a number of major infrastructure projects will be nearing completion. Rockies Express will come onstream early in the year, unlocking the unconventional gas potential of the Rocky Mountain region. New liquefied natural gas (LNG) regasification terminals will be completed as well, opening the door for rapidly growing LNG supplies to enter the North American market. These projects will fundamentally alter key flow patterns on the North American pipeline grid, and will lead to greater integration of the North American gas market, both internally and with the emerging global gas market. At the same time as this wave of investment comes to fruition, surging costs, environmental uncertainty, and a looming credit crunch threaten to slow new investment, raising the prospect of a new cycle of market tightness in the next decade.

CERA insights presented at this Roundtable will guide clients in their strategy development and investment decision making during the next six months and beyond, as they weigh the risks and rewards in the North American natural gas market.