FERC is projecting elevated U.S. natural gas prices for the 2022-2023 winter, despite mild weather forecasts for most of the country and steadily rising domestic production.

“Natural gas prices for the upcoming winter are expected to remain higher than recent years at major trading hubs across the U.S.,” Federal Energy Regulatory Commission staff said in the Winter Energy Market and Reliability Assessment for 2022-2023 released last week. 

Although production growth is likely to outpace that of domestic demand this winter, rising net exports – namely LNG — “will place additional pressure on natural gas prices this winter,” researchers said.

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