EIA Forecasts Stable Natural Gas Prices for 2022

The Energy Information Administration is forecasting that the natural gas spot price at the U.S. benchmark Henry Hub will average $3.79 per million British thermal units (MMBtu) in 2022, slightly less than its 2021 average of $3.91/MMBtu. The EIA expects natural gas prices to drop in 2023, averaging $3.63/MMBtu, as growth in production outpaces growth in domestic demand and exports.

Meanwhile, when it comes to increasing Ohio’s oil and natural gas output, producers here are taking a “wait and see” approach as tensions rise between Russia and Ukraine. 1/26/2022