Natural Gas News – March 21, 2023

Natural Gas News – March 21, 2023

Natural Gas, Oil To Remain Top Sources Of Energy In U.S.

U.S. natural gas consumption will hold essentially unchanged in the U.S. even as domestic production will climb, making the country a net exporter of natural gas through 2050, a recent outlook has shown. The annual energy outlook from the U.S. Energy Information Administration has forecast that the share of coal and nuclear power will decrease for U.S. electricity producers. Meanwhile, oil production will reach record highs while natural gas production in the U.S. will be increasingly driven by natural gas exports. High international demand for gas, is expected to cause ongoing growth in U.S. production. The EIA foresees limited growth in domestic consumption, which allows the United States to remain a net exporter of petroleum products and natural gas through 2050 in all cases. Although the EIA sees no… For more info go to https://bit.ly/3JVX0BZ

U.S. Natural Gas Consumption Set Nine Monthly Records

In 2022, U.S. natural gas consumption averaged a record 88.5 billion cubic feet per day (Bcf/d)—the highest annual natural gas consumption, according to records beginning in 1949. U.S. natural gas consumption last year increased 5% (4.5 Bcf/d) from 2021, the second-fastest year-over-year growth since 2013. Natural gas consumption peaks twice a year in the United States, driven by the residential and commercial sectors during the winter and electric power sector during the summer. In winter, the most natural gas is consumed in January or February when demand for space heating peaks. In summer, the most natural gas is consumed typically in July or August to meet air-conditioning demand. Newly retired coal-fired generating plants, relatively high coal prices, and lower-than-average coal stocks… For more info go to https://bit.ly/3n7KlDd