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ENRON ANNOUNCES 1997 GAS RESOURCE AND ENERGY FORECAST
FOR IMMEDIATE RELEASE: Tuesday, August 12, 1997
HOUSTON - Enron Corp. said today that its 1997 gas resource and energy forecast indicates an extremely positive outlook for both gas and electricity demand growth.
"The 1997 Enron Outlook affirms that plentiful supplies of natural gas will be available at reasonable prices over the long term," said Kenneth L. Lay, Enron chairman and CEO. "We estimate the remaining recoverable natural gas resource base in North America to be about 2,600 trillion cubic feet (Tcf) as of January 1, 1997. This includes effects of the 21.8 Tcf that were produced and replaced in the U.S. alone during 1996."
The Enron Outlook also indicates that global natural gas use will increase at an average rate of 3.4 percent per year through the year 2015, compared to all energy consumption growth at 2.4 percent per year worldwide.
World electricity use is forecast to grow at an even faster pace of 3.5 percent per year, according to the Enron analysis. Renewables and natural gas lead the growth in fuel use for global electricity generation, growing at 3.6 percent and 5.7 percent per year, respectively.
Complete copies of the Enron Outlook, now in its fifth year of publication, can be obtained on a first-come, first-serve basis by calling (713) 853-7088.
Enron Corp., one of the world's largest integrated natural gas and electricity companies with approximately $17 billion in assets, operates one of the largest natural gas transmission systems in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; is a leading participant in liberalized energy markets in the United Kingdom and the Nordic Countries; markets natural gas liquids worldwide; manages the largest portfolio of fixed-price natural gas risk management contracts in the world; is among the leading entities arranging new capital to the energy industry; owns a majority interest in Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns a majority interest in Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; is one of the largest independent developers and producers of electricity in the world; and is a major supplier of solar and wind renewable energy worldwide. Enron's internet address is www.enron.com and its common stock is traded under the ticker symbol, "ENE."
For additional information please contact:
Carol Hensley
(713) 853-6498
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