This is despite a predicted increase in U.S. marketed natural gas production of 7.8 percent in 2008 and 3.8 percent in 2009.
Several factors contribute to the impending price hike, including:
- An expected increase in total (residential and commercial) natural gas consumption of 2.7% in 2008 and 2.2% in 2009.
- Rising prices in Europe and Asia, and
- Increased global demand for liquified natural gas (LNG).
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