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US Gas Production and Demand to Reach Record High's 2022: EIA STEO

NATURAL GAS

U.S. natural gas production and demand will rise to record highs in 2022 according to the EIA Short Term Energy Outlook (STEO).

  • The EIA projected dry gas production will rise to 97.09 billion cubic feet per day (bcfd) in 2022 and 100.36 bcfd in 2023 from a record 93.55 bcfd in 2021.
  • Projected gas consumption would rise from 82.97 in 2021 to 86.56 bcfd in 2022 before sliding to 84.63 bcfd in 2023. That compares with a record 85.29 bcfd in 2019.
  • The EIA's latest projections for 2022 were higher than its August forecasts of 96.59 bcfd for supply and 85.16 bcfd for demand.
  • The EIA forecast average U.S. liquefied natural gas (LNG) exports would reach 11.01 bcfd in 2022 and 12.34 bcfd in 2023, up from a record 9.76 bcfd in 2021.

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