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US Natural Gas Production Forecast for 2016 to Show First Downswing in Decade

© AFP 2022 / FETHI BELAIDFacilities of the Chergui gas field concession of the UK based oil company Petrofac on the island of Kerkennah. (File)
Facilities of the Chergui gas field concession of the UK based oil company Petrofac on the island of Kerkennah. (File) - Sputnik International
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The natural gas production in the United States will decrease for the first time since 2005, the Energy Information Administration (EIA) said Tuesday.

MEXICO CITY (Sputnik) — The production in 2016 is said to have decreased by 1.4 billion cubic feet per day, in comparison to 2015, the agency said.

"Natural gas marketed production is forecast to average 77.3 billion cubic feet per day (Bcf/d) in 2016, a 1.4 Bcf/d decline from the 2015 level, which would be the first annual decline since 2005," EIA said in a press release.

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The production is expected to grow in November owing to higher drilling activity and better connection of the production to demand centers, EIA explained.

The agency added that the growth of domestic natural gas consumption and exports to Mexico would lead to the current market price of the Henry Hub gas rising from $2.50 per million UK thermal units this year to $3.12 in 2017.

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