Even Record Summer Demand Could Be Trumped by Supply Glut

摘要

Dampening bulls' hopes for a midyear price rebound, the Natural Gas Supply Association (NGSA) last week said a sharp increase in summer gas consumption still won't be enough to overcome a persistent gas glut. "Even with record-setting demand expected, production is projected to be abundant," said NGSA President Dena Wiggins. 'With more than enough supply to meet demand, we anticipate downward pressure on prices compared to last summer." The NGSA which represents large gas producers, does not make specific price forecasts.