EIA slashes 2017 Henry Hub price estimate

The U.S. Energy Information Administration has cut its forecast for 2017 Henry Hub natural gas spot prices.

In its latest Short-Term Energy Outlook, the agency said Henry Hub gas prices would average $3.43/MMBtu in 2017 and $3.70/MMBtu in 2018.

These estimates are down 12 cents and 3 cents, respectively, from forecasts in EIA’s January short-term outlook.

In January, average Henry Hub natural gas spot prices fell by 29 cents per MMBtu from December levels to $3.30/MMBtu. Mild January temperatures, which were the warmest since 2006, contributed to lower prices, the agency said.

U.S. dry natural gas production is expected to average 73.7 Bcf/d in 2017, a 1.3 Bcf/d increase from the 2016 level.

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

The agency expects natural gas production in 2018 to increase by an average of 4.1 Bcf/d from the 2017 level.

 

Share this article

Follow LNG World News

Events>

<< Aug 2019 >>
MTWTFSS
29 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

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >