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US gas consumption sees uptick amid higher power demand

Total natural gas consumption in the U.S. edged up 1% during the week ended Aug. 7 as power burn hit a record high, the U.S. Energy Information Administration reported in its Aug. 8 "Natural Gas Weekly Update."

Gas use in the first week of the month totaled 70.8 Bcf/d, an increase from 69.8 Bcf/d in the previous report week, according to the EIA. Consumption by the power sector rose week over week to 41.2 Bcf/d from 40.1 Bcf/d, as it reached a record 44.4 Bcf/d on Aug. 7.

Residential and commercial use went up to 8.3 Bcf/d from 8.0 Bcf/d, but consumption by the industrial sector slid to 21.2 Bcf/d from 21.6 Bcf/d.

Including Mexico exports, pipeline fuel use or losses and LNG pipeline receipts, total U.S. demand for gas this week slightly fell to 86.9 Bcf/d from 87.0 Bcf/d a week ago.

U.S. LNG exports dropped week over week as eight LNG tankers carrying a total of 29 Bcf left the U.S. between Aug. 1 and Aug. 7, the EIA reported, citing shipping data compiled by Bloomberg. In the previous week, 11 LNG vessels carrying a total of 39 Bcf departed the country.

The eight tankers include five from Cheniere Energy Inc.'s Sabine Pass terminal in Louisiana and one each from Cheniere's Corpus Christi terminal in Texas, Dominion Energy Inc.'s Cove Point in Maryland and Sempra Energy's Cameron LNG terminal, also in Louisiana.

Gas supply in the country also climbed this week, standing at 95.9 Bcf/d, compared with 95.5 Bcf/d a week earlier. Both marketed and dry gas production grew this week, coming in at 102.3 Bcf/d and 91.4 Bcf/d, respectively, against 101.2 Bcf/d and 90.5 Bcf/d in the prior week. Dry gas production hit an all-time high of 92.1 Bcf/d on Aug. 5, its first time to exceed 92 Bcf/d. Average net imports from Canada dipped to 4.4 Bcf/d from 4.9 Bcf/d.

Net injections into storage for the week ended Aug. 2 were 55 Bcf, up from the five-year average of 43 Bcf and the 46 Bcf recorded during the same week in 2018. Working gas stocks amounted to 2,689 Bcf, 111 Bcf lower than the five-year average but 343 Bcf higher than the same week last year.