U.S. dry natural gas production will rise to an all-time high of 91.03 billion cubic feet per day (Bcf/d) in 2019, breaking last year’s record of 83.39 Bcf/d, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Aug. 6.
The latest output projection for 2019 was down from EIA’s 91.35 Bcf/d forecast in July.
EIA also projected U.S. gas consumption would rise to 84.65 Bcf/d in 2019, beating the record-high of 82.07 Bcf/d a year ago.
The 2019 demand projection in the August STEO report was up from EIA’s 84.59 Bcf/d forecast for the year in July.
EIA projected output in 2020 would rise to 92.50 Bcf/d but demand would slide to 83.96 Bcf/d.
The agency forecast U.S. net gas exports would reach 5.2 Bcf/d in 2019 and 8.1 Bcf/d in 2020, up from 2.0 Bcf/d in 2018. The United States became a net gas exporter in 2017 for the first time in 60 years.
EIA projected gas would remain the primary U.S. power plant fuel in 2019 and 2020 after supplanting coal in 2016.
It projected the share of gas generation would rise to 37% in 2019 from 34% in 2018 before slipping to 36% in 2020.
Coal’s share of generation was forecast to slide to 24% in 2019 and 2020 from 28% in 2018.
Nuclear’s share of generation will hold around 20% in 2019 and 2020, while renewables will rise from 17% in 2018 to 18% in 2019 and 19% in 2020.
EIA projected the power sector would burn 538.1 million short tons of coal in 2019, the lowest since 1979, and 525.9 million tons in 2020, the lowest since 1978. That compares with 636.5 million tons in 2018, the lowest since 1983.
Recommended Reading
Vistra Buys Remaining Stake in Subsidiary Vistra Vision for $3.2B
2024-09-19 - Vistra Corp. will become the sole owner of its subsidiary Vistra Vision LLC, which owns various nuclear generation facilities, renewables and an energy storage business.
Kimmeridge Signs Natgas, LNG Agreement with Glencore
2024-09-19 - Under the terms of the agreement, set to be finalized later this year, Glencore will purchase 2 mtpa of LNG from Commonwealth LNG and source natural gas from Kimmeridge Texas Gas.
Matador Closes $1.8B Ameredev Deal, Updates Asset Development Plans
2024-09-19 - Matador Resources’ $1.83 billion bolt-on acquisition of the Delaware Basin’s Ameredev II adds 33,500 acres and brings the company’s inventory to approximately 2,000 net locations.
TotalEnergies Signs LNG Agreements in China, Turkey
2024-09-19 - TotalEnergies announced two separate long-term LNG sales in China and a non-binding agreement with Turkey’s BOTAŞ in an effort to grow its long-term LNG sales.
WhiteHawk Energy Adds Marcellus Shale Mineral, Royalty Assets
2024-09-18 - WhiteHawk Energy LLC said it acquired Marcellus Shale natural gas mineral and royalty interests covering 435,000 gross unit acres operated by Antero Resources, EQT, Range Resources and CNX Resources.