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<TITLE>NG Speaker Series Update</TITLE>
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<FONT COLOR="#24408F"><FONT SIZE="5"><FONT FACE="Century Gothic"><SPAN STYLE='font-size:13.5pt'><B>Natural Gas Speaker Series<BR>
Porter Bennett and guest Jozef Lieskosvky<BR>
</B>US Natural Gas Market Outlook: Boom and Bust, or New Beginning?<BR>
</SPAN></FONT></FONT></FONT><FONT FACE="Century Gothic"><FONT COLOR="#58899D"><FONT SIZE="4"><SPAN STYLE='font-size:12pt'>Thursday, September 24, 2009<BR>
2pm-4pm<BR>
Light snacks and beverages<BR>
Room E19-319<BR>
50 Ames Street<BR>
Massachusetts Institute of Technology<BR>
Cambridge, MA<BR>
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</SPAN></FONT></FONT><FONT COLOR="#B10837"><FONT SIZE="5"><SPAN STYLE='font-size:13.5pt'>Abstract<BR>
</SPAN></FONT></FONT></FONT><FONT SIZE="4"><FONT FACE="Gotham-Book"><SPAN STYLE='font-size:10.5pt'>US natural gas production is soaring. Since October 2008, drilling activity has fallen by approximately 50%, yet production continues to climb, contradicting the behavior projected by many industry models. Advances in technology explain some of the variance as producers unlock unconventional resources at an unprecedented rate, shifting the relative importance of the nation’s gas producing basins. Meanwhile, total demand has fallen despite a 70% decline in prices over the past year. The result: natural gas inventories are reaching unprecedented levels.<BR>
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Two futures are possible for the industry: one is a repeat of past boom and bust cycles; the second is one of sustainable growth whereby natural gas becomes the central fuel as the nation moves toward energy security and a low carbon emission environment.<BR>
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This presentation will examine how supply, demand and transportation interact to shape the US natural gas market and how the market is being transformed by technological advances. BENTEK’s unique analysis of natural gas flow patterns along with current drilling and production data will be used to explain recent price trends, how prices will behave in the years ahead and what the market says about how the industry may evolve.<BR>
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</SPAN></FONT></FONT><FONT COLOR="#B10837"><FONT SIZE="5"><FONT FACE="Century Gothic"><SPAN STYLE='font-size:13.5pt'>Bio<BR>
</SPAN></FONT></FONT></FONT><FONT SIZE="4"><FONT FACE="Gotham-Book"><SPAN STYLE='font-size:10.5pt'>Porter Bennett is the President and CEO of BENTEK Energy, LLC, which he founded in 1985. Over the past 24 years he has led the evolution of the company from an energy industry consulting firm specializing in market and customer analysis to today’s leading energy market information company. <BR>
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He holds a MS Degree in Mineral Economics from the Colorado School of Mines, and a MA Degree in International Affairs from Columbia University.<BR>
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Jozef Lieskovsky is the Director of Research at BENTEK Energy, LLC. Mr. Lieskovsky has over eight years of experience analyzing natural gas market fundamentals. Prior to joining BENTEK, Mr. Lieskovsky worked as a fundamental market analyst for the trading desk of Enron, BP, and UBS. He holds a M.E. from University of Iowa and a MBA from MIT. <BR>
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</SPAN></FONT></FONT><FONT COLOR="#808080"><FONT FACE="Century Gothic"><SPAN STYLE='font-size:10pt'>megan nimura </SPAN></FONT></FONT><FONT FACE="Century Gothic"><SPAN STYLE='font-size:10pt'>|<FONT COLOR="#808080"> administrative assistant<BR>
study of natural gas </FONT>|<FONT COLOR="#808080"> study of solar energy<BR>
mit energy initiative </FONT>| <FONT COLOR="#808080">e19-370v<BR>
t 617.715.5279 </FONT>|<FONT COLOR="#808080"> f 617.253.8013<BR>
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<a href="mnimura@mit.edu">mnimura@mit.edu</a><BR>
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