July 12, 2023
July 2023 - Energy News
As higher-than-normal summer temperatures across the country push Americans to turn down their air conditioners, the U.S. is seeing growing demand for natural gas-generated power.
In this month’s newsletter, we will cover the impact of summer temperatures on natural gas demand, continued growth in liquified natural gas (LNG) exports, and the current status of U.S. production and supply.
Domestic Demand
The U.S. demand for natural gas grew over 6 percent compared to last year, with much of that increase coming from natural gas-generated power. With record high temperatures in the south and western United States, power generated from natural gas grew by 11.7 percent.
International Demand
The U.S. is not the only country experiencing record-high temperatures, Europe and Asia are contributing to a surge in LNG demand to meet the power requirements for cooling. According to the Energy Information Administration (EIA), LNG exports increased by 15 percent compared to last year, with 27 LNG vessels departing the United States containing 100 Bcf of LNG.
Production & Supply
Production in the United States continues to remain steady, with total supply, production and imports, 3 percent higher than last year at 107.3 Bcf per day. Although production remains high, natural gas rigs in operation continue to decrease, with natural gas rigs down 19 percent compared to last year as producers try to bring pricing more in line with expectations.
According to the EIA, the U.S. currently has 2,877 (Bcf) of natural gas in storage. The current storage levels are 25 percent higher than in the same period last year and 14.6 percent higher than the five-year average
Market Data:
July 12, 2023
July 12, 2023
July 2023 - Energy News
As higher-than-normal summer temperatures across the country push Americans to turn down their air conditioners, the U.S. is seeing growing demand for natural gas-generated power.
In this month’s newsletter, we will cover the impact of summer temperatures on natural gas demand, continued growth in liquified natural gas (LNG) exports, and the current status of U.S. production and supply.
Domestic Demand
The U.S. demand for natural gas grew over 6 percent compared to last year, with much of that increase coming from natural gas-generated power. With record high temperatures in the south and western United States, power generated from natural gas grew by 11.7 percent.
International Demand
The U.S. is not the only country experiencing record-high temperatures, Europe and Asia are contributing to a surge in LNG demand to meet the power requirements for cooling. According to the Energy Information Administration (EIA), LNG exports increased by 15 percent compared to last year, with 27 LNG vessels departing the United States containing 100 Bcf of LNG.
Production & Supply
Production in the United States continues to remain steady, with total supply, production and imports, 3 percent higher than last year at 107.3 Bcf per day. Although production remains high, natural gas rigs in operation continue to decrease, with natural gas rigs down 19 percent compared to last year as producers try to bring pricing more in line with expectations.
According to the EIA, the U.S. currently has 2,877 (Bcf) of natural gas in storage. The current storage levels are 25 percent higher than in the same period last year and 14.6 percent higher than the five-year average
July 12, 2023
July 2023 - Energy News
As higher-than-normal summer temperatures across the country push Americans to turn down their air conditioners, the U.S. is seeing growing demand for natural gas-generated power.
In this month’s newsletter, we will cover the impact of summer temperatures on natural gas demand, continued growth in liquified natural gas (LNG) exports, and the current status of U.S. production and supply.
Domestic Demand
The U.S. demand for natural gas grew over 6 percent compared to last year, with much of that increase coming from natural gas-generated power. With record high temperatures in the south and western United States, power generated from natural gas grew by 11.7 percent.
International Demand
The U.S. is not the only country experiencing record-high temperatures, Europe and Asia are contributing to a surge in LNG demand to meet the power requirements for cooling. According to the Energy Information Administration (EIA), LNG exports increased by 15 percent compared to last year, with 27 LNG vessels departing the United States containing 100 Bcf of LNG.
Production & Supply
Production in the United States continues to remain steady, with total supply, production and imports, 3 percent higher than last year at 107.3 Bcf per day. Although production remains high, natural gas rigs in operation continue to decrease, with natural gas rigs down 19 percent compared to last year as producers try to bring pricing more in line with expectations.
According to the EIA, the U.S. currently has 2,877 (Bcf) of natural gas in storage. The current storage levels are 25 percent higher than in the same period last year and 14.6 percent higher than the five-year average
July 12, 2023
July 2023 - Energy News
As higher-than-normal summer temperatures across the country push Americans to turn down their air conditioners, the U.S. is seeing growing demand for natural gas-generated power.
In this month’s newsletter, we will cover the impact of summer temperatures on natural gas demand, continued growth in liquified natural gas (LNG) exports, and the current status of U.S. production and supply.
Domestic Demand
The U.S. demand for natural gas grew over 6 percent compared to last year, with much of that increase coming from natural gas-generated power. With record high temperatures in the south and western United States, power generated from natural gas grew by 11.7 percent.
International Demand
The U.S. is not the only country experiencing record-high temperatures, Europe and Asia are contributing to a surge in LNG demand to meet the power requirements for cooling. According to the Energy Information Administration (EIA), LNG exports increased by 15 percent compared to last year, with 27 LNG vessels departing the United States containing 100 Bcf of LNG.
Production & Supply
Production in the United States continues to remain steady, with total supply, production and imports, 3 percent higher than last year at 107.3 Bcf per day. Although production remains high, natural gas rigs in operation continue to decrease, with natural gas rigs down 19 percent compared to last year as producers try to bring pricing more in line with expectations.
According to the EIA, the U.S. currently has 2,877 (Bcf) of natural gas in storage. The current storage levels are 25 percent higher than in the same period last year and 14.6 percent higher than the five-year average
July 12, 2023
July 2023 - Energy News
As higher-than-normal summer temperatures across the country push Americans to turn down their air conditioners, the U.S. is seeing growing demand for natural gas-generated power.
In this month’s newsletter, we will cover the impact of summer temperatures on natural gas demand, continued growth in liquified natural gas (LNG) exports, and the current status of U.S. production and supply.
Domestic Demand
The U.S. demand for natural gas grew over 6 percent compared to last year, with much of that increase coming from natural gas-generated power. With record high temperatures in the south and western United States, power generated from natural gas grew by 11.7 percent.
International Demand
The U.S. is not the only country experiencing record-high temperatures, Europe and Asia are contributing to a surge in LNG demand to meet the power requirements for cooling. According to the Energy Information Administration (EIA), LNG exports increased by 15 percent compared to last year, with 27 LNG vessels departing the United States containing 100 Bcf of LNG.
Production & Supply
Production in the United States continues to remain steady, with total supply, production and imports, 3 percent higher than last year at 107.3 Bcf per day. Although production remains high, natural gas rigs in operation continue to decrease, with natural gas rigs down 19 percent compared to last year as producers try to bring pricing more in line with expectations.
According to the EIA, the U.S. currently has 2,877 (Bcf) of natural gas in storage. The current storage levels are 25 percent higher than in the same period last year and 14.6 percent higher than the five-year average
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