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Weekly US gas use drops as moderate temperatures cut heating demand

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Weekly US gas use drops as moderate temperatures cut heating demand

U.S. demand for natural gas declined 3% for the week that ended May 22, as moderate temperatures pulled down residential and commercial consumption, the U.S. Energy Information Administration said in its May 23 "Natural Gas Weekly Update."

Total gas consumption fell to 58.9 Bcf/d for the report week, from 60.4 Bcf/d a week ago. Gas use from the residential and commercial sector dropped by 17% to 13.4 Bcf/d from 16.2 Bcf/d in the previous week due to low demand for heating.

Industrial gas use also saw a slight dip to 20.0 Bcf/d, from 20.4 Bcf/d in the previous week. However, consumption for power generation rose to 25.5 Bcf/d in the report week, from 23.9 Bcf/d a week ago.

Including Mexico exports, pipeline fuel use and losses and LNG pipeline receipts, total demand amounted to 75.0 Bcf/d for the report week, down from 76.9 Bcf/d a week ago.

Eleven LNG vessels bearing a total of 38.2 Bcf left the U.S. from May 16 to May 22, the EIA reported, citing shipping data compiled by Bloomberg. The number of vessels that departed remained flat week over week. Eight of the vessels left from Cheniere Energy Inc.'s Sabine Pass terminal in Louisiana, while two came from Cheniere's Corpus Christi terminal in Texas. The one remaining vessel left from Dominion Energy Inc.'s Cove Point terminal in Maryland.

Average total gas supply in the U.S. was 93.6 Bcf/d for the report week, decreasing from 94.0 Bcf/d a week ago. Supply from marketed production fell to 99.3 Bcf/d, from 100.0 Bcf/d a week ago, while dry gas production dipped to 88.6 Bcf/d from 89.2 Bcf/d. Net Canada imports slightly increased to 4.9 Bcf/d, from 4.7 Bcf/d.

Net injections into storage for the week ended May 17 amounted to 100 Bcf, higher than both the five-year average net injections of 88 Bcf and net injections of 93 Bcf in the same week a year ago. Working gas stocks totaled 1,753 Bcf, which is 274 Bcf below the five-year average and 137 Bcf above the same week a year ago.