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US gas demand, supply unchanged versus prior week

Natural gas demand and supply in the U.S. were flat during the week that ended May 24, the U.S. Energy Information Administration said in its latest "Natural Gas Weekly Update" released May 25.

Overall U.S. gas consumption was reportedly unchanged week over week at an average 56.5 Bcf/d, as stronger power burn was offset by diminished residential/commercial-sector demand.

Power-sector demand for natural gas logged a 5% increase relative to the prior week level as it climbed from 24.5 Bcf/d to 25.7 Bcf/d, while residential/commercial-sector gas consumption notched an 11% decline over the same period, falling from 12.2 Bcf/d to 10.8 Bcf/d. Industrial-sector gas demand was steady week over week at an average 20.0 Bcf/d.

Natural gas exports to Mexico reportedly clawed 1% higher from the week-ago level to average at 4.2 Bcf/d. Natural gas pipeline flows to the Sabine Pass liquefaction terminal were also reportedly flat versus the prior-week figure at an average 2.1 Bcf/d, with three vessels carrying a combined 10.2 Bcf of LNG seen to have left the terminal from May 18 to May 24 and one vessel with an LNG-carrying capacity of 3.6 Bcf seen loading at the terminal May 24.

Total U.S. gas supply remained the same week on week at an average at 76.6 Bcf/d, as both dry production and net imports from Canada stayed constant over the same period at averages at 70.9 Bcf/d and 5.7 Bcf/d, respectively.

In terms of inventories, the latest storage data from the EIA detailed a net 75-Bcf injection to stocks for the week that ended May 19 that was above the 71-Bcf build seen in the corresponding week in 2016 but below the 90-Bcf five-year average addition. It took total working gas stocks to 2,444 Bcf, or 371 Bcf below the year-ago level and 241 Bcf above the five-year average of 2,203 Bcf.