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US gas consumption retreats by 3% as power sector demand wanes

Natural gas consumption in the U.S. slid by 3% during the week ended Sept. 25, driven in part by a decline in power sector demand, the U.S. Energy Information Administration reported in its Sept. 26 "Natural Gas Weekly Update."

Gas use during the report week came in at 63.6 Bcf/d, down from the 65.3 Bcf/d seen in the week prior. Power sector consumption was pegged at 33.2 Bcf/d, compared to the 35.4 Bcf/d noted a week ago. Industrial gas consumption also ticked lower with 21.1 Bcf/d posted for the review week, compared to the 21.2 Bcf/d reported during the previous week.

On the other hand, residential and commercial use noted a weekly increase to 9.3 Bcf/d, from 8.7 Bcf/d.

Total U.S. demand, which includes Mexico exports, pipeline fuel use or losses, and LNG pipeline receipts, tumbled to 81.3 Bcf/d during the review period, from 83.1 Bcf/d.

The EIA, citing shipping data compiled by Bloomberg, reported a week-over-week increase in U.S. LNG exports as 12 vessels with a combined capacity of 44 Bcf left the country from Sept. 19 through Sept. 25. In the week prior, 12 tankers with a total capacity of 42 Bcf departed from the U.S.

Of the 12 vessels, seven came from Cheniere Energy Inc.'s Sabine Pass terminal in Louisiana; three were from Cheniere's Corpus Christi terminal in Texas; one departed from Dominion Energy Inc.'s Cove Point terminal in Maryland; and one tanker left from the Cameron LNG LLC terminal, also in Louisiana.

Total gas supply for the review week came in at 97.5 Bcf/d, up from the 96.9 Bcf/d reported a week ago. Marketed and dry gas production both increased to 105.1 Bcf/d and 93.1 Bcf/d, respectively, compared to the prior week values of 104.1 Bcf/d and 92.2 Bcf/d, respectively. Average imports from Canada were pegged at 4.3 Bcf/d, down from the 4.6 Bcf/d noted a week ago.

For the week ended Sept. 20, net injections into storage totaled 102 Bcf, rising from the five-year average of 74 Bcf and substantially higher than the 51 Bcf reported during the same week a year ago. Working gas stocks totaled 3,205 Bcf, 47 Bcf lower than the five-year average, but 444 Bcf higher than the same week a year earlier.