U.S. dry natural gas production, consumption and exports will increase in 2019 and 2020, while prices will decrease, the U.S. Energy Information Administration (EIA) said Tuesday.
In its latest Short-Term Energy Outlook, EIA forecast that U.S. dry natural gas production will average 90.2 billion cubic feet per day (Bcf/d) in 2019 and 92.2 Bcf/d in 2020, higher than the average of 83.3 Bcf/d in 2018. Increases in the Appalachia and Permian regions drive the forecast growth.
When it comes to natural gas consumption, EIA said that total U.S. natural gas consumption averaged an estimated 81.6 billion Bcf/d in 2018. EIA expected it to increase by 1.3 percent in 2019 and then increase by a further 1.1 percent in 2020.
The United States exported more natural gas than it imported in 2018, with net exports averaging 2.1 Bcf/d. EIA forecast that gross U.S. exports will rise by 31.5 percent to 13.2 Bcf/d in 2019 and then by 15.1 percent to 15.2 Bcf/d in 2020.
EIA also forecast that Henry Hub natural gas spot prices will average 2.89 U.S. dollars per million British thermal units (MMBtu) in 2019 and 2.92 dollars per MMBtu in 2020, down from 3.15 dollars per MMBtu in 2018.
Editor:Cherie
