Natural Gas Prices May Double by 2015, FT Reports

U.S. natural gas prices may double from recent 10-year lows by 2015 as more of the fuel is used in transportation, the Financial Times reported Thursday, citing an oil company executive.

Prices will rebound from the recent lows that have come about from strong North American shale gas production, Royal Dutch Shell CEO Peter Voser told the newspaper in an interview.

Truck and engine makers made a big push toward more natural gas use at the Mid-America Trucking Show in March.

Shell is considering plans to liquefy U.S. natural gas for export, which could also raise world natural gas prices, the Financial Times reported.

China and Europe are also boosting exploration, and China may have larger shale resources than North America, the paper said, citing the U.S. Energy Information Administration.