Natural gas is set to remain relatively cheap, with prices set to hold steady, according to the energy consultant and natural gas monitor.

Natural gas, which accounts for roughly 70 per cent of global gas production, is also set to become more expensive as it gets more expensive.

Corning natural oil and natural-gase oils account for almost half of natural gas use in Canada.

Corning has said that prices are unlikely to rise substantially over the next few years.

In a research note published on Monday, Corning analyst David M. Johnson said prices would likely stay relatively low.

The price of natural-fuel oil and other products like natural gas is expected to remain below $US3.20 a barrel this year, he said.

Coronac is a joint venture between Corning and Shell Canada Ltd., which operates a refinery and gas terminal in Edmonton.

It produces and markets natural gas to energy consumers and businesses.

The company also owns two natural-resources companies.