Gas producers have struggled in part because New York and other Northeastern states have made it harder to build pipelines to transport the fuel. “Natural gas is in the tank,” said Patrick Montalban, president of Montalban Oil & Gas Operations. Not only are the wells uneconomic, the gathering of the gas is uneconomic.”American natural gas inventories are about 19 percent higher than a year ago, according to the Energy Department. The government estimates that the average spot price for natural gas will be $2.45 per million British thermal units in 2020, about 14 cents below this year’s average. Exports of liquefied natural gas are rising sharply, but future profits may be meager.

Source: International New York Times December 11, 2019 22:07 UTC