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U.S. Consumption of Natural Gas to Increase: EIA

Update Time: 2022-04-14

The U.S. Energy Information Administration (EIA) forecast in a report on Tuesday that the consumption of natural gas in the country will average 84.1 billion cubic feet per day (Bcf/d) in 2022, up 1 percent from 2021.

In its April's Short-Term Energy Outlook (STEO), EIA said the increase is a result of colder forecast temperatures in 2022 compared with 2021, which results in more consumption in the residential and commercial sectors.

In addition, the U.S. industrial sector will consume more natural gas in 2022 in response to expanding economic activity, said the report in its monthly forecast.

The U.S. natural gas consumption will average 84.7 Bcf/d in 2023, the report forecast.

U.S. LNG exports averaged 11.9 Bcf/d last month, an increase of 0.7 Bcf/d from February, said the report, expecting high levels of U.S. LNG exports to continue in 2022, averaging 12.2 Bcf/d for the year, a 25 percent increase from 2021.

U.S. dry natural gas production will average 97.4 Bcf/d, 3.8 Bcf/d more than in 2021, said the report, forecasting an average of 100.9 Bcf/d in 2023.

Increasing renewable generation will also lead to the decline of coal's share of generation from 23 percent in both 2021 and 2022 to 21 percent by 2023, said the report, adding that nuclear generation remains relatively constant in the forecast at an average share of 20 percent in the country.

U.S. energy-related carbon dioxide (CO2) emissions increased by more than 6 percent in 2021 as economic activity increased and contributed to rising energy use, said the report, expecting a 2 percent surge in energy-related CO2 emissions in 2022, primarily from growing transportation-related petroleum consumption.

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