trending Market Intelligence /marketintelligence/en/news-insights/trending/wAEdO8g1QjiN92Olfopwvw2 content esgSubNav
In This List

US gas demand slumps, supply expands to start July

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Blog

Insight Weekly Labor market recovery hurdles power market integration nonbank MA hunt

Blog

Q&A: Q2'21 Power Forecast: Overheated Power Markets are Here – Who Wins, Who Loses, and Why?

Blog

ESG & Technology: Impacts and Implications


US gas demand slumps, supply expands to start July

TotalU.S. natural gas consumption deflated during the week ended July 6 amid reduceddemand across all sectors, while supply climbed on the back of risingproduction, the U.S. Energy Information Administration said in its latest"Natural Gas WeeklyUpdate," released July 7.

OverallU.S. consumption of natural gas fell by 4% week over week, from 61.5 Bcf/d to59.1 Bcf/d. Power burn notched a 5% decline versus the week-ago level as it slidfrom 34.0 Bcf/d to 32.3 Bcf/d, while industrial-sector demand logged a 1% slumpover the same period as it eased from 19.6 Bcf/d to 19.5 Bcf/d andresidential/commercial-sector consumption posted an 8% decrease on the week asit dwindled from 7.9 Bcf/d to 7.3 Bcf/d. Exports to Mexico were flat during thereview period as it averaged at 3.7 Bcf/d.

Naturalgas pipeline flows to the Sabine Pass liquefaction terminal during the week inreview that averaged at about 0.7 Bcf/d were 48% higher than in the prior week,the EIA reported.

Totalnatural gas supply was up 1% week on week, from 79.3 Bcf/d to 80.1 Bcf/d. Drynatural gas production grew from 72.6 Bcf/d in the week ago to 73.5 Bcf/d inthe current review period to reflect a 1% increase, while net imports fromCanada faltered by 2% from the week-ago level as it declined from 6.5 Bcf/d to6.4 Bcf/d and LNG pipeline deliveries that remained a small contributor tooverall supply held unchanged week over week at 0.2 Bcf/d.

Interms of inventories, the latest storage data from the EIA outlined a net39-Bcf injection tostocks for the week ended July 1 that was below both the 83-Bcf build in thecorresponding week last year and the 77-Bcf five-year-average addition. The reportedinjection took overall inventories to 3,179 Bcf, trimming the year-on-yearoverhang to 538 Bcf and shrinking the year-on-five-year-average surplus to 599Bcf.