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August JODI Natural Gas Data Highlights

NATURAL GAS

Highlights for August JODI natural gas data include:

  • Natural gas demand was at a five-year seasonal high and stood at 101 percent of year-ago levels. Meanwhile, gas production was at 97 percent of 2021 levels.
  • Russian gas production increased for the first time since March but remains at a 5-year seasonal low and 31 percent below March levels.
  • EU+UK gas consumption was at a 5-year seasonal low in August. The group’s LNG imports have more than doubled from a year ago. Gas inventories increased by 12.2bcm to stand ~81% full at the end of August.
  • Global LNG exports increased by 1.2bcm in August as Norway’s exports soared to the second highest level on record and flows remained robust from the US and Australia.
  • Total gas inventories increased by 18.5bcm month-on-month in August but were still 13.3bcm below the 5-year average.

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