EIA: Gas Price Avg <$2 in 2020, 110 LNG Export Cargoes Canceled

Our favorite government agency, the U.S. Energy Information Administration (EIA), issued its monthly Short-Term Energy Outlook (STEO) yesterday. We’re interested mainly in the natural gas numbers. The expert number crunchers at EIA predict the price of Henry Hub traded gas will average $1.93 for all of 2020 (although EIA predicts the price will rise in Q420 to $2.46). The report also says U.S. LNG exports are taking a nosedive this summer. From June through August at least 110 LNG cargoes have been canceled–meaning a decrease in 75% of our LNG exports. That will have a big impact on gas drillers.

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