SAN FRANCISCO – The U.S. Energy Information Administration on Tuesday said it expects total U.S. natural-gas consumption to average a record 71.2 billion cubic feet per day in 2013. That's a 2.1% increase from 2012. But the EIA forecast a consumption drop of 2.2% in 2014 due to expectations for a decline in heating-degree days (a measure that reflects demand for heating) and lower natural-gas use by the electric-power sector. The EIA also forecast average natural-gas spot prices at $3.73 million British thermal units in 2013, $3.89 million Btus in 2014 and $4.11 million Btus in 2015. Northeast natural-gas production jumped to 12.3 billion cubic feet per day in 2013 from 2.1 bcf in 2008, it said.
Copyright © 2014 MarketWatch, Inc.