Natural gas prices plummet in ’23:EIA

Jack Burke Senior Editor, Compressor Tech2

January 04, 2024

High production, warmer winter offset increase in demand

Benchmark Henry Hub natural gas price averaged US$2.57 MMBtu in 2023, about a 62% drop from the 2022 average annual price, the U.S. Energy Information Administration (EIA) reported, citing data from Refinitiv Eikon.

Record-high natural gas production, flat consumption, and rising natural gas inventories contributed to lower prices in 2023,…

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