LNG

May 15 (LNGJ) - The Fedreral Energy Regulatory Commission has issued its summer 2015 energy market assessment in which it made several interesting points. Citing the likely development of moderate to strong El Nino weather patterns, forecasters are predicting a below average hurricane season for the Atlantic Basin, with only three hurricanes forecast. By comparison, seven hurricanes is considered normal for a season. "Generally speaking, hurricanes do not have the same level of impact on the US energy markets as they did several years ago, due to the substantial shift in natural gas production from the Gulf of Mexico to onshore shale production," the FERC said. The regulator also looked at prices. "Forward prices are not a predictor of actual prices, but reflect the cost of hedging market risk and can help us understand market dynamics," the FERC said. "Going into the summer, the average NYMEX futures price for June through August is $2.89 per million British thermal units, which is 40 percent lower than in 2014," it stated.