Further gas price reductions expected in 2017
According to Bloomberg, following the Trump's Administration push to "unleash America's $50 trillion of untapped fossil reserves", U.S. is set to become the leading fossil fuel producer in the world. At present, Russia is the largest oil and gas exporter accounting for more than 20% of the world's natural gas exports, but U.S. will look to drastically change market relations. Considering a forecast of more U.S. drilling (as evidenced by increases in the U.S. rig count), increased competition from domestic coal and foreign gas (Iran, reportedly, has approximately $7 trillion worth of gas reserves and is looking to increase its current market share) - 2017 should bring even lower prices of natural gas, with 2018 likely to follow the same trend.
Source: Bloomberg
