December 26, 2001—The US Department of Energy (DOE) has released the final phase of a two-part analysis of the natural gas market in the United States, which indicated that prices should continue to decline through next year and that supplies are expected to increase.
Specifically, the analysis found that natural gas prices are expected to decline by more than $2.00 per thousand cubic feet and supplies should increase about 1 trillion cubic feet in 2002. It also determined that natural gas prices have declined substantially because additional drilling, mild weather, and a slowing economy have reduced the growth in natural gas consumption.
The final report, “U.S. Natural Gas Markets: Mid-term Prospects for Natural Gas Supply,” is available in PDF format from DOE’s Energy Information Administration.
