In its 14th annual Winter Outlook assessment of the natural gas market, the Natural Gas Supply Association (NGSA) expects downward price pressure on the natural gas market compared with last winter. This assessment is based on a combined analysis of the economy, weather, demand, production, and storage, including: • Demand will be less this winter. • US production has increased. • Storage inventories at the beginning of the winter season (Nov. 1) will be adequate. More specifically, average storage withdrawals this winter are projected to be only 12.9 bcfd, or 35% below last winter’s record storage withdrawal of 19.7 bcfd. Average growth in gross domestic product similar to last winter is expected, which exerts a neutral effect on gas prices. “When NGSA weighed all the different pressure points, the picture that emerged for the upcoming winter is one of remarkable growth in supply and steady […]