Consumption

Because natural gas withdrawals from storage have picked up with January’s colder temperatures and U.S. production tailed off a bit in November, the Energy Information Administration (EIA) said Tuesday it has decided to leave its price forecasts for the next two years almost unchanged: $2.64/MMBtu this year and $3.22/MMBtu next year.

The global natural gas trade is seen growing in line with global consumption over the next 20 years, with imports and exports playing an increasingly vital role in the world’s economy, according to BP plc.

There may be light at the end of the tunnel for slumping natural gas prices, according to the Energy Information Administration (EIA), which said Monday it expects the benchmark Henry Hub to average $2.65/MMBtu in 2016 and $3.22/MMBtu in 2017.

There may be light at the end of the tunnel for slumping natural gas prices, according to the Energy Information Administration (EIA), which said Monday it expects the benchmark Henry Hub to average $2.65/MMBtu in 2016 and $3.22/MMBtu in 2017.

Consumption of natural gas for power generation since the beginning of the year has averaged 26 Bcf/d, 24% more than the five-year average and 3% more than the five-year maximum, despite electricity-weighted heating degree days that were close-to-average nationally, according to the Energy Information Administration (EIA).

Natural gas again supplied the largest share of U.S. power generation in September, according to data published this week by the Energy Information Administration (EIA).

U.S. dry natural gas production in September continued a stretch of record breakers, reaching 2.29 Tcf (76.3 Bcf/d), the highest of any September since the Energy Information Administration (EIA) began reporting such production data in 1973, the agency said.

For the second consecutive month, U.S. dry natural gas production in August was the highest for any month since the Energy Information Administration (EIA) began reporting gas production data, reaching 2.37 Tcf (76.5 Bcf/d), the agency said.

Almost two years removed from a severe shortage of propane, the United States is currently sitting on a record inventory, according to the U.S. Energy Information Administration (EIA), which said nearly all of the stockpiled increase for the past year came from six Gulf Coast states.