In updated forecasting stretching to 2023, the Energy Information Administration (EIA) on Tuesday laid out a vision of rising natural gas production and exports alongside moderating U.S. prices.

Natural gas spot prices at Henry Hub averaged $3.91/MMBtu for 2021, the agency said in its latest Short-Term Energy Outlook (STEO). This year and next should bring slightly lower pricing for the national benchmark, with a forecast average price of $3.79 for 2022 and $3.63 for 2023, the agency said.

U.S. liquefied natural gas (LNG) exports rose more than 3 Bcf/d versus 2020 levels to average 9.8 Bcf/d in 2021, and export growth is set to continue in the new year, according to the latest STEO. EIA projected 11.5 Bcf/d of LNG exports on average for 2022, with that figure expected to rise to...