U.S. Gas Production Hits Record Highs In March, EIA Says

U.S. Gas Production Hits Record Highs In March, EIA Says
In March 2022, U.S. dry natural gas production increased year-over-year for the 12th consecutive month, the EIA said.

In March 2022, U.S. dry natural gas production increased year-over-year for the 12th consecutive month, the Energy Information Administration (EIA) said.

The preliminary level for dry natural gas production in March 2022 was 2,944 billion cubic feet (Bcf), or 95.0 billion cubic feet per day (Bcf/d).

This level was 2.7 Bcf/d or 2.9 percent higher than March 2021 and the second-highest level for the month since 1973, when the EIA began tracking dry natural gas production.

Gross withdrawals also increased from March 2021. The withdrawals stood at 3,615 Bcf for the month, or a daily rate of 116.6 Bcf/d, a 3.8 percent increase compared with March last year. This was the highest daily rate of gross withdrawals for the month since 1980 – the earliest year in this data set.

Estimated natural gas consumption in March 2022 was 2,764 Bcf, or 89.2 Bcf/d, a 5.7 percent higher than the same month last year and the highest for the month since 2019.

The year-over-year average daily rate of consumption of dry natural gas in March 2022 increased in each of the four consuming sectors. During the month, residential deliveries – the highest for the month since 2019 – were 592 Bcf for the month, or a daily rate of 19.1 Bcf/d which is 4.2 percent higher than March 2021.

As for commercial deliveries, they stood at 387 Bcf for the month. Its daily rate was 12.5 Bcf/d, a 9.0 percent increase from March 2021.

Commercial deliveries, industrial deliveries, and electric power deliveries were higher than previously. Industrial deliveries were the second highest for the month since we began using the current methodology for industrial deliveries in 2001.

Net natural gas imports were -377 Bcf or -12.2 Bcf/d in March 2022, making the United States a net natural gas exporter.

The average daily rate of net imports was the lowest for any month since we began tracking imports and exports in 1973. The United States exported 2.4 times more natural gas than it imported in March 2022.

LNG exports in March 2022 were 13.4 percent higher than the daily rate of LNG exported in March 2021. The average daily rate of LNG exports was also the highest for any month since 1997 when the EIA began collecting LNG data.

In March 2022, the United States exported 11.7 Bcf/d of LNG to 28 countries. Natural gas imports and exports both increased year over year in March 2022. Total imports were 261 Bcf for the month or a daily rate of 8.4 Bcf/d – a 9.2 percent increase compared with March 2021. The daily rate of natural gas imports was the highest for the month since 2018.

Total exports were at 638 Bcf for the month, or 20.6 Bcf/d a 7.2 percent increase compared with March 2021. Natural gas exports were the highest for any month since we began tracking them in 1973.

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