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March 2024 JODI Gas Data Highlights

NATGAS
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Natural gas production increased 9.8bcm m/m in March but was approximately 9.7bcm or 5% down year-on-year driven by the US.

  • Natural gas demand showed a seasonal decline in the month of 9.6bcm and was about 7% below the 5-year average and 12.6bcm down on March 2023. US demand fell by almost 9bcm and the EU+UK fell by nearly 2bcm to a 5-year seasonal low.
  • Total gas inventories decreased by 8.7bcm m/m but remained above levels from the previous year and 44.7bcm above the five year average. EU+UK inventories declined by 4.3bcm in March but were 35% above the five year average.
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Natural gas production increased 9.8bcm m/m in March but was approximately 9.7bcm or 5% down year-on-year driven by the US.

  • Natural gas demand showed a seasonal decline in the month of 9.6bcm and was about 7% below the 5-year average and 12.6bcm down on March 2023. US demand fell by almost 9bcm and the EU+UK fell by nearly 2bcm to a 5-year seasonal low.
  • Total gas inventories decreased by 8.7bcm m/m but remained above levels from the previous year and 44.7bcm above the five year average. EU+UK inventories declined by 4.3bcm in March but were 35% above the five year average.