US EIA revises Henry Hub price estimates

Image courtesy of EIA

The U.S. Energy Information Administration has changed its forecast for Henry Hub natural gas spot prices this year as LNG exports produced from shale gas continue to rise.

In its latest Short-Term Energy Outlook released on Tuesday, the agency said Henry Hub gas prices would average $2.99 per million British thermal units in 2018 and $3.12/MMBtu in 2019.

The 2018 estimate is up 3 cents as compared to forecasts in EIA’s previous short-term outlook.

“NYMEX futures and options contract values for December 2018 delivery that traded during the five-day period ending September 6, 2018, suggest a range of $2.31/MMBtu to $3.77/MMBtu encompasses the market expectation for December Henry Hub natural gas prices at the 95% confidence level,” the agency said.

EIA also said that U.S. dry natural gas production reached 82.2 billion cubic feet per day (Bcf/d) in August, up 0.7 Bcf/d from July.

Dry natural gas production is expected to average 81.0 Bcf/d in 2018, up by 7.4 Bcf/d from 2017 and establishing a new record high, it said.

EIA added it expects natural gas production to continue to rise in 2019 to an average of 84.7 Bcf/d.

 

Share this article

Follow LNG World News

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 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 1 2 3 4 5 6

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

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 >

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

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 >