(Platts)–09Dec2025/102 pm EST/1802 GMT **Q1 gas marketed production raised to 119.6 Bcf/d **Lowers Q1 gas demand forecast to 105.6 Bcf/d The US Energy Information Administration Dec. 9 raised by 700 MMcf/d to 120.6 Bcf/d its natural gas marketed production estimate for the US in the fourth quarter. The EIA, in its December Short-Term Energy Outlook, also raised its Q1 2025 production forecast by 1.1 Bcf/d to 119.6 Bcf/d. The agency raised its natural gas consumption estimates by 500 MMcf/d to 94.3 Bcf/d for Q4, but lowered the estimate by 700 MMcf/d to 105.6 Bcf/d for Q1. The EIA raised its forecast for Q4 Henry Hub natural gas spot prices by 36 cents to $3.87/MMBtu. The Q1 forecast also rose 37 cents from the previous month’s estimates to $4.35 /MMBtu. “In its December STEO, EIA forecasts the cold snap hitting the United States this month will drive the Henry Hub natural gas spot price to average almost $4.30/MMBtu this winter, which is more than 40 cents/MMBtu higher than its November forecast,” the agency said in a statement. “The price increase is driven by increased natural gas consumption for space heating.” The EIA forecast Henry Hub natural gas prices would average $3.56/MMBtu for full-year 2025 and $4.01/MMBtu in 2026, compared with the previous month’s estimates of $3.47/MMBtu in 2025 and $4.02 /MMBtu in 2026. — Maya Weber, maya.weber@spglobal.com– Edited by Richard Rubin, newsdesk@spglobal.com–Platts Electricity Alert–