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US gas consumption remains flat as supply ticks up

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US gas consumption remains flat as supply ticks up

Total natural gas consumption in the U.S. stayed effectively flat while supply grew by 1% during the week ended Aug. 21, the U.S. Energy Information Administration reported in its Aug. 22 "Natural Gas Weekly Update."

Gas use in the country clocked in at 70.7 Bcf/d, a marginal decrease from 70.9 Bcf/d in the previous report week, according to the EIA. Consumption by the power sector also fell to 40.8 Bcf/d from 41.4 Bcf/d a week ago.

However, gas consumption by both industrial and residential and commercial sectors saw increases this week. Industrial use rose to 21.2 Bcf/d from 20.9 Bcf/d, while residential and commercial use inched up to 8.7 Bcf/d from 8.5 Bcf/d.

Including Mexico exports, pipeline fuel use or losses and LNG pipeline receipts, total demand for gas in the U.S. went up to 87.1 Bcf/d from 86.5 Bcf/d in the prior week.

U.S. LNG exports climbed week over week as nine LNG tankers carrying a total of 32 Bcf left the country between Aug. 15 and Aug. 21, the EIA reported, citing shipping data compiled by Bloomberg. In the previous week, seven LNG vessels bearing a total of 25 Bcf departed the country.

The nine tankers comprise four from Cheniere Energy Inc.'s Sabine Pass terminal in Louisiana; two each from Cheniere's Corpus Christi terminal in Texas and Dominion Energy Inc.'s Cove Point terminal in Maryland; and one from Sempra Energy's Cameron LNG terminal, also in Louisiana.

On Aug. 19, Cameron LNG said it has started commercial operations under the facility's tolling agreements. Freeport LNG Development LP also began liquefaction production at its export facility in Texas.

Venture Global LNG also recently made a formal final investment decision to build its Calcasieu Pass LNG export project in Louisiana. The developer announced the decision in an update to an Aug. 19 news release that said the company closed the project financing.

Gas supply in the country edged higher to 96.9 Bcf/d from 96.0 Bcf/d a week earlier. Both marketed and dry gas production increased this week, totaling 103.1 Bcf/d and 92.2 Bcf/d, respectively, compared with 102.6 Bcf/d and 91.7 Bcf/d in the prior week. Average net imports from Canada also ticked up to 4.6 Bcf/d from 4.2 Bcf/d.

Net injections into storage for the week ended Aug. 16 stood at 59 Bcf, an increase from the five-year average of 51 Bcf and the 47 Bcf recorded during the same week in 2018. Working gas stocks came in at 2,797 Bcf, 103 Bcf lower than the five-year average but 369 Bcf higher than the same week a year ago.