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US natural gas record

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Jan 15 (LNGJ) – US dry natural gas production set a record in 2019 to average 92.0 billion cubic feet per day, according to the Energy Information Administration. The EIA forecasts dry natural gas production will rise to 94.7 Bcf per day in 2020 and then decline to 94.1 Bcf per day in 2021.

   “Production in the Appalachian region drives the forecast as it shifts from growth in 2020 to declining production in 2021,” said the EIA short-term forecast.

On pricing, the benchmark Henry Hub natural gas spot price is seen averaging average $2.33 per million British thermal units in 2020, down from $2.57 per MMBtu in 2019. It is then expected that natural gas prices will increase in 2021, reaching an annual average of $2.54 per MMBtu.

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