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US gas demand dips amid cooler temperatures across much of Lower 48 states

Colder temperatures in the Lower 48 pushed U.S. natural gas consumption down during the week that ended Sept. 5, the U.S. Energy Information Administration said in its Sept. 6 "Natural Gas Weekly Update."

Total U.S. gas consumption averaged 60.9 Bcf/d for the week, a dip compared with the 62.2 Bcf/d average of the previous week, the EIA reported. Gas consumption for power generation fell by 3% compared to the previous report week due to lower overall temperatures in the Lower 48, averaging about 34.0 Bcf/d from Aug. 30 to Sept. 5. Overall demand, which includes exports, fell to 75.5 Bcf/d from 76.7 Bcf/d.

Five LNG vessels with a combined carrying capacity of 17.7 Bcf left the U.S. during the report week, with all of which having left from Cheniere Energy Inc.'s Sabine Pass terminal in Louisiana. Average daily pipeline deliveries to LNG export terminals for the week increased by about 100 MMcf/d, after averaging 3.2 Bcf/d compared to the prior week's 3.1 Bcf/d average, according to the EIA.

Freeport LNG Development LP recently made an agreement to support the planned fourth train of its Texas LNG export facility through an expected long-term off-take arrangement with a Japanese conglomerate described as a "foundation customer."

U.S. gas supply fell by roughly 300 MMcf/d for the week, averaging 87.9 Bcf/d after the previous week's average of 88.2 Bcf/d. Average net imports from Canada also dipped during the report week, averaging 5.0 Bcf/d from Aug. 30 to Sept. 5 compared to last report week's 5.4 Bcf/d average.

Net storage injections for the week ending Aug. 31 totaled 63 Bcf, which was more than the 60 Bcf of net injections in the same week in 2017. Working gas stocks totaled 2,568 Bcf, which was about 590 Bcf below the five-year average and 643 Bcf below the level for the same period in the previous year.