Even with increased gas demand, analysts cut US price forecasts

摘要

Analysts have been growing ever more bearish about naturalngas prices as the summer ends without providing significantncooling demand.nDespite a 40% rise in its forecast demand for gas-fired powerngeneration in 2015, Barclays has revised its price target for thenyear down 5% to $4.01/MMBtu, saying production gains willnoffset any demand increase. This view was shared by Bernstein,ncutting its forecast for the year by 11% to the same price:n$4/’000 cu ft as it sees gas supplies, primarily from wet gasnplays, continuing to outpace higher demand in 2015. Barclaysnis assuming that 30 GW of coal-fired generation will retire inn2015, but expects total power demand for gas to shrink slightly.