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Houston, TX - The U.S. Energy Information Administration expects natural gas prices to remain below $4 per thousand cubic feet until late this year amid robust supplies and weaker demand resulting from the economic downturn.
EIA's Gas Market Outlook- 6/10/2009
Industrial gas consumption is forecast to decline by eight percent this year, unchanged from last month's forecasted decrease, according to the EIA's Short-Term Energy Outlook. Major industrial gas consumers, including companies in the fertilizer, chemicals and aluminum industries, have curbed gas use and cut spending.
Liquefied natural gas imports to the U.S. are expected to rise to 495 billion cubic feet in 2009, up from the 352 billion cubic feet received last year, as new global LNG production capacity comes on line worldwide.
Read the full story at cnn.com.