Natural gas production is set for a significant increase over the next year thanks to the current imbalance between demand and supply, which has pushed prices to record highs , Reuters’ John Kemp reports , citing energy traders. Meanwhile, however, gas supply for this winter season will be tight, Kemp also said, adding that as a result and in anticipation of next year’s supply recovery, Henry Hub futures had swung into a backwardation, with contracts for delivery in January 2023 round $1.15 per mmBtu lower than contracts for delivery next January. Current Henry Hub prices are around $5 per mmBtu, which is double the price from a year ago, according to the Wall Street Journal. Natural Gas Prices At Record Highs The Journal’s Jinjoo Lee noted in a recent report that natural gas could “really use an OPEC-style, coordinated production ramp-up right now.” While U.S. natural gas prices were […]