Growth in the Permian Basin, countered by declines in Appalachia and the Haynesville Shale, will see combined natural gas production from key Lower 48 regions hold steady at just over 100 Bcf/d in March, according to the U.S. Energy Information Administration (EIA). Total production from seven major Lower 48 producing regions — a list that…
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U.S. LNG Contracting Slowed in 2023 as Global Natural Gas Prices Stabilized, EIA Says
While LNG export capacity in the United States is set to continue ballooning through the end of the decade, the pace of supply contracts could be cooling for terminal projects still in development, according to the Energy Information Administration (EIA). Last year marked another leap forward for U.S. liquefied natural gas export expansions, with three…
Permian to Partly Offset Natural Gas Production Declines from Gassy Plays in Early 2024, EIA Says
Shrinking volumes from gassy plays will overshadow higher associated output from the Permian Basin to drive a modest decline in natural gas production from key Lower 48 regions in early 2024, according to the latest modeling from the U.S. Energy Information Administration (EIA). In its updated Drilling Productivity Report (DPR), EIA projected 98.889 Bcf/d of…
Natural Gas Demand Gains to Outpace Supply Growth in 2025 as Exports Rise, EIA Says
Henry Hub natural gas spot prices will average $2.60-2.70/MMBtu in 2024 before climbing further next year amid higher LNG exports and slowing production growth, the U.S. Energy Information Administration (EIA) said Tuesday. In its latest monthly Short-Term Energy Outlook (STEO), EIA called for a 2025 average Henry Hub natural gas spot price of $2.95. The…
EIA Models Appalachian, Haynesville Natural Gas Declines, Permian Gains into Early 2024
Natural gas production from seven key Lower 48 regions is set to ease lower from December to January as declines from the Haynesville Shale and the Appalachian Basin overshadow Permian Basin gains, according to the latest modeling from the U.S. Energy Information Administration (EIA). EIA’s updated Drilling Productivity Report (DPR), which also models production trends…
EIA Slashes Henry Hub Forecast as Production Seen Near 105 Bcf/d Throughout Winter
The U.S. Energy Information Administration (EIA) is slashing its winter Henry Hub spot price forecast on a combination of elevated production and weak space heating demand for natural gas so far this season. EIA said in its latest Short-Term Energy Outlook (STEO) Tuesday it now expects the national benchmark to average $2.80/MMBtu this winter, down…
EIA Forecasts ‘Balanced’ Global LNG Market This Winter, Aided by More U.S. Exports
As the Northern Hemisphere nears what could be a milder winter compared to last year, Energy Information Administration (EIA) researchers expect U.S. LNG exporters to further expand their role as a balancing force in the global spot market. In EIA’s latest winter liquefied natural gas market outlook, researchers wrote that most key natural gas markets…
Natural Gas-Heated Homes to Enjoy Lower Costs This Winter, Especially in the West, EIA Says
In a winter expected to feature flattish consumption versus year-earlier levels, households heating with natural gas should pay around 20% less for fuel during the upcoming heating season, according to the U.S. Energy Information Administration (EIA). Lower wholesale natural gas prices year/year will drive the decrease in energy costs for homes heated with the fuel,…
EIA Raises Henry Hub Forecast for 4Q as Natural Gas Exports Set to Rise
The U.S. Energy Information Administration (EIA) has raised its Henry Hub spot price forecast for 4Q2023 to $3.03/MMBtu, though the agency spotlighted storage levels that remain on the high side of historical norms. EIA in its latest Short-Term Energy Outlook modeled a Henry Hub spot price of $3.31 for 1Q2024, which would compare bullishly to…
U.S. Natural Gas Exports to Grow to 2050 as Global Energy Demand Rises, EIA Says
Primary energy use will increase globally through 2050 in all cases examined in updated projections from the U.S. Energy Information Administration (EIA), pointing to a rise in North American natural gas production and exports to help meet the growing demand. Meanwhile, greater adoption of non-fossil fuel-based energy resources such as nuclear and renewables will likely…