Comment of Roy S Quesenberry under PF15-3.

Figure 109: Detailed Results from Global Natural Gas Model, HEUR_D_NX EIA NERA Projections Ref 2010 2015 2020 2025 2030 2035 Total Demand (Tcf) 23.86 26.98 27.66 27.82 28.78 30.39 Domestic Demand 23.86 26.98 27.66 27.82 28.60 29.71 Pipeline Exports to Canada - - - - 0.18 0.68 Total LNG Exports - - - - - - China/India - - - - - - Europe - - - - - - Korea/Japan - - - - - - Total Supply (Tcf) 23.86 26.98 27.66 27.82 28.78 30.39 Domestic Production 21.1 24.60 26.29 27.45 28.62 30.33 Pipeline Imports from Canada 2.33 2.01 0.87 0.01 - - Total LNG Imports 0.43 0.37 0.50 0.36 0.16 0.06 Africa 0.11 - - - - - C & S America 0.21 0.37 0.50 0.36 0.16 0.06 Europe 0.03 - - - - - Middle East 0.08 - 0.00 - - - Wellhead Price (2010$/Mcf) $4.08 $3.27 $3.43 $4.03 $4.47 $4.88 Netback Price (2010$/Mcf) - $4.85 $5.10 $6.23 $6.48 $7.18 Quota Rent (2010$/Mcf) - $1.58 $1.67 $2.20 $2.01 $2.30 143 NERA Economic Consulting Figure 116: Detailed Results from Global Natural Gas Model, HEUR_SD_NX EIA NERA Projections Ref 2010 2015 2020 2025 2030 2035 Total Demand (Tcf) 23.86 26.98 27.66 27.82 28.78 30.39 Domestic Demand 23.86 26.98 27.66 27.82 28.60 29.71 Pipeline Exports to Canada - - - - 0.18 0.68 Total LNG Exports - - - - - - China/India - - - - - - Europe - - - - - - Korea/Japan - - - - - - Total Supply (Tcf) 23.86 26.98 27.66 27.82 28.78 30.39 Domestic Production 21.1 24.60 26.29 27.45 28.62 30.33 Pipeline Imports from Canada 2.33 2.01 0.87 0.01 - - Total LNG Imports 0.43 0.37 0.50 0.36 0.16 0.06 Africa 0.11 - - - - - C & S America 0.21 0.37 0.50 0.36 0.16 0.06 Europe 0.03 - - - - - Middle East 0.08 - - - - - Wellhead Price (2010$/Mcf) $4.08 $3.27 $3.43 $4.03 $4.47 $4.88 Netback Price (2010$/Mcf) - $5.83 $9.20 $10.04 $8.63 $9.33 Quota Rent (2010$/Mcf) - $2.56 $5.77 $6.01 $4.16 $4.45 150 NERA Economic Consulting Figure 122: Detailed Results from Global Natural Gas Model, HEUR_SD_NC EIA NERA Projections Ref 2010 2015 2020 2025 2030 2035 Total Demand (Tcf) 23.86 28.91 30.54 31.84 33.29 36.38 Domestic Demand 23.86 24.68 25.10 25.11 26.22 27.31 Pipeline Exports to Canada - - - - 0.18 0.68 Total LNG Exports - 4.23 5.44 6.72 6.89 8.39 China/India - 0.51 0.69 1.60 1.75 2.00 Europe - 2.23 1.04 1.09 0.57 1.18 Korea/Japan - 1.49 3.71 4.03 4.57 5.21 Total Supply (Tcf) 23.86 28.91 30.54 31.84 33.29 36.38 Domestic Production 21.10 26.53 29.17 31.47 33.13 36.32 Pipeline Imports from Canada 2.33 2.01 0.87 0.01 - - Total LNG Imports 0.43 0.37 0.50 0.36 0.16 0.06 Africa 0.11 - - - - - C & S America 0.21 0.37 0.50 0.36 0.16 0.06 Europe 0.03 - - - - - Middle East 0.08 - - 0.00 - - Wellhead Price (2010$/Mcf) $4.08 $4.47 $4.68 $5.40 $5.61 $5.97 Netback Price (2010$/Mcf) - $4.47 $4.68 $5.40 $5.61 $5.97 Quota Rent (2010$/Mcf) - - - - - - 156 NERA Economic Consulting Figure 123: Detailed Results from Global Natural Gas Model, LEUR_INTREF_NX EIA NERA Projections Ref 2010 2015 2020 2025 2030 2035 Total Demand (Tcf) 23.86 22.77 22.54 22.21 22.79 23.15 Domestic Demand 23.86 22.77 22.54 22.21 22.7