U.S. natural gas production will grow in 2019 and 2020, according to a report released Tuesday by the U.S. Energy Information Administration (EIA).
In the EIA's latest Short-Term Energy Outlook, U.S. natural gas production will average 91.4 billion cubic feet (2.59 billion cubic meters) per day (Bcf/d) in 2019, up 8.0 Bcf/d from the 2018 level. The forecast natural gas production will average 93.2 Bcf/d in 2020.
EIA expected monthly average natural gas production to grow in late 2019 and then decline slightly during the first quarter of 2020 as the lagged effect of low prices in the second half of 2019 reduces natural gas-directed drilling. However, EIA forecast that the growth will resume in the second quarter of 2020.
According to the energy outlook, U.S. natural gas storage injections have outpaced the five-year (2014-18) average so far during the 2019 injection season as a result of rising natural gas production.
At the beginning of April, the natural gas inventory injection season started with working inventories 28 percent lower than the five-year average for the same period. By the week ending Aug. 30, working gas inventories were 82 billion cubic feet, or 3 percent, lower than the five-year average.
EIA forecast that natural gas storage levels will be 3,769 Bcf by the end of October, which is slightly higher than the five-year average and 16 percent higher than October 2018 levels.
Editor:Cherie
