The US Energy Information Administration Sept. 8 lowered by 420 MMcf/d to 100.58 Bcf/d its natural gas marketed production estimate for the US in the fourth quarter of 2021.
In its September Short-Term Energy Outlook, EIA also raised its 2022 production forecast by 590 MMcf/d to 103.51 Bcf/d.
The agency raised its natural gas consumption estimate by 1.33 Bcf/d to 74.48 Bcf/d for Q3, but lowered by 1.71 Bcf/d to 84.62 Bcf/d its production estimate for Q4.
EIA raised its forecast for Q3 Henry Hub natural gas spot prices by 29 cents to $4.00/MMBtu. The Q4 forecast rose 54 cents from the previous month’s estimates to $4.00/MMBtu.
The agency projected Henry Hub natural gas prices would average $3.63/MMBtu for full-year 2021 and $3.47/MMBtu in 2022, from the previous month’s estimates of $3.42/MMBtu in 2021 and $3.08/MMBtu in 2022.
Source: Platts