July 24, 2014
WASHINGTON (AP) - The natural gas industry says there should be plenty of the fuel for heating this winter and prices are likely to be about the same as last winter.
Although nearly half of natural gas production in the Gulf of Mexico remains shut down because of recent hurricanes, the industry expects gas inventories at the start of winter to be well above the five-year average.
The Natural Gas Supply Association said Thursday gas production is expected to be about 8 percent higher than last winter, with more wells operating. The group expects the slowing economy to reduce industry demand for gas. And it says an expected milder-than-normal winter also should put downward pressure on prices.
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