US consumption of natural gas to increase: Energy Information Admin
The US Energy Information Administration forecast in a report that the consumption of natural gas in the country will average 84.1 billion cubic feet per day in 2022
The US Energy Information Administration (EIA) forecast in a report that the consumption of natural gas in the country will average 84.1 billion cubic feet per day (Bcf/d) in 2022, up 1 per cent from 2021.
In its April’s Short-Term Energy Outlook (STEO), EIA said the increase is a result of colder forecast temperatures in 2022 compared with 2021, which results in more consumption in the residential and commercial sectors.
In addition, the US industrial sector will consume more natural gas in 2022 in response to expanding economic activity, said the report in its monthly forecast.
The US natural gas consumption will average 84.7 Bcf/d in 2023, the report forecast.
US LNG exports averaged 11.9 Bcf/d last month, an increase of 0.7 Bcf/d from February, said the report, expecting high levels of US LNG exports to continue in 2022, averaging 12.2 Bcf/d for the year, a 25 per cent increase from 2021.
US dry natural gas production will average 97.4 Bcf/d, 3.8 Bcf/d more than in 2021, said the report, forecasting an average of 100.9 Bcf/d in 2023.
However, the annual share of US electricity generation from natural gas will fall from a 37 per cent share in 2021 to 35 per cent in both 2022 and 2023, said the report, while forecasting that the share from renewable energy sources to rise from 20 per cent in 2021 to 22 per cent in 2022 and 23 per cent in 2023, as a result of continuing increases in solar and wind generating capacity.
Increasing renewable generation will also lead to the decline of coal’s share of generation from 23 per cent in both 2021 and 2022 to 21 per cent by 2023, said the report, adding that nuclear generation remains relatively constant in the forecast at an average share of 20 percent in the country.
US energy-related carbon dioxide (CO2) emissions increased by more than 6 per cent in 2021 as economic activity increased and contributed to rising energy use, said the report, expecting a 2 per cent surge in energy-related CO2 emissions in 2022, primarily from growing transportation-related petroleum consumption.
EIA is a statistical and analytical agency within the US Department of Energy.