US EIA raises expected Q3 gas marketed production by 1.63 Bcf/d to 99.76 Bcf/d

The US Energy Information Administration June 8 raised by 1.63 Bcf/d to 99.76 Bcf/d its natural gas marketed production estimate for the US in the third quarter of 2021.

EIA, in its June Short-Term Energy Outlook, also raised its 2021 production forecast by 1.43 Bcf/d to 99.29 Bcf/d.

The agency raised its natural gas consumption estimates by 170 MMcf/d to 70.7 Bcf/d for Q2, and by 250 MMcf/d to 73.94 Bcf/d for Q3.

EIA raised its forecast for Q2 Henry Hub natural gas spot prices by 8 cents to $2.86/MMBtu. The Q3 forecast also rose 2 cents from the previous month's estimates to $2.92/MMBtu.

The agency projected Henry Hub natural gas prices would average $3.07/MMBtu for full-year 2021 and $2.93/MMBtu in 2022, compared with the previous month's estimates of $3.05/MMBtu in 2021 and $3.02/MMBtu in 2022.