WASHINGTON, Oct. 8 (TNSPol) -- The Natural Gas Supply Association issued the following news release:
Natural gas demand and production are both projected to grow this winter, due primarily to the recovering U.S. economy and global commodity market, the Natural Gas Supply Association (NGSA) said today in its 21st annual Winter Outlook forecast of the wholesale winter natural gas market.
"The fundamentals in NGSA's Outlook show strong demand for natural gas at home and globally," said David Attwood, Chairman of NGSA and Vice President of the Americas, Global Gas Optimization & Trading at ExxonMobil.
The NGSA 2021-2022 Winter Outlook for Natural Gas predicts that a combination of strong economic growth, growing demand for natural gas, resurgent production, and decreased storage inventory is expected to result in upward pressure on natural gas prices compared to last winter's average of $3.09 per MMBtu at the Henry Hub. Winter is defined as November through March, the industry's traditional heating season.
"NGSA forecasts production to provide a steady response to increased demand for natural gas and LNG this winter. Natural gas offers the opportunity of a cleaner energy future that is affordable, accessible and can help grow local economies all while helping to reduce global emissions," Attwood said.