A four-year surge in U.S. natural gas production is slowing and the trend is expected to continue next year, as weak gas prices finally depress new output, the government's Energy Information Administration said yesterday.
Message Posted: Jun 13, 2012 1:07:33 PM
The new monthly EIA Short-Term Energy Outlook report projects that the spot price of natural gas will average $2.55 per million British thermal units (MMBtu) this year, just a dime higher than the annual figure EIA gave last month. The agency expects next year's spot price at Louisiana's Henry Hub terminal will average just $3.23 per MMBtu -- keeping a cloud over the shale gas industry's hopes for a revival.
EIA predicts that marketed gas production will average 69.65 billion cubic feet per day in 2013, a 2 percent increase over 2012.
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