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EIA Short-Term Energy Outlook for US Natural Gas

NATURAL GAS

The EIA’s Short-Term Energy Outlook has forecast that Henry Hub spot prices will average $2.27/MMBtu in 2024, a downward revision from $2.65/Mmbtu in the February report.

  • Henry Hub price forecast for 2025 in unchanged at $2.94/MMBtu.
  • The EIA expect the Henry Hub spot price to remain below $2/MMBtu in Q2 as the winter heating season ends.
  • Total dry gas production is forecast at 103.35m bcf/d in 2024, slightly below the 103.79 bcf/d in 2023. Production is 2025 will rise to 104.43 bcf/d.
  • The growth in 2024 is driven by expected growth in associated natural gas production in the Permian Basin and further LNG export demand, the EIA said.

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