Despite supply interruptions caused by Hurricane Gustav, there should be plenty of natural gas available for heating this winter, according to the Associated Press, and prices are likely to stay about the same as last winter, natural gas producers said.

Nearly half of the natural gas production in the Gulf of Mexico remains shut down because of two recent hurricanes. But the industry said that gas inventories at the start of the winter heating season -- traditionally the beginning of November -- are expected to be well above the five-year average.

This winter producers are expected to pump about eight percent more gas than last winter, with more wells operating.

The slowing economy could temper demand for gas, particularly for industrial uses, although demand from power companies is forecast to increase slightly.

Production this winter is expected to be 57.5 billion cubic feet a day, or 7.9% higher than last winter, with an expected 3,450 billion cubic feet of gas in storage by November. This is the highest level of production in 35 years.

 

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