EIA raises 2017 Henry Hub price estimate

Image courtesy of EIA

The U.S. Energy Information Administration raised its forecast for Henry Hub natural gas spot prices this year due to new export capabilities and rising domestic consumption.

In its latest Short-Term Energy Outlook released on May 9, the agency said Henry Hub gas prices would average $3.17 per million British thermal units in 2017 and $3.43/MMBtu in 2018.

The 2017 estimate is up 7 cents while the forecast for 2018 is down 2 cents as compared to forecasts in EIA’s March short-term outlook.

In April, the average Henry Hub natural gas spot price was $3.10/MMBtu, 22 cents above the March level.

U.S. dry natural gas production is forecast to average 74.1 billion cubic feet per day (Bcf/d) in 2017, a 1.8 Bcf/d increase from the 2016 level, EIA said.

This increase reverses a 2016 production decline, which was the first annual decline since 2005.

EIA expects natural gas production in 2018 to be 3.2 Bcf/d more than the 2017 level.

Share this article

Follow LNG World News

Events>

<< Aug 2018 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >

Oil and Gas 2018

The conference will cover a wide range of topics and allow participants to discuss about the new technologies developed in Petroleum…

read more >

Gastech Exhibition & Conference 2018

The leading exhibition and conference for the global gas, LNG and energy industries.

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >