Quarterly natural gas consumption falls to lowest level in 5 years

by Jeff Della Rosa (JDellaRosa@nwabj.com)

U.S. natural gas consumption is expected to be lower in the first quarter than in any of the same periods since 2018, according to the U.S. Energy Information Administration (EIA). First-quarter average consumption of about 99 billion cubic feet per day is the least for any first quarter since 2018.

The EIA released Tuesday (March 7) the March Short-Term Energy Outlook that shows January and February were likely to be among the warmest on record in data going back to 1895, and this contributed to lower heating demand, resulting in lower consumption. This will lead to lower prices and more natural gas in storage.

EIA expects 2023 wholesale prices of natural gas to be half of the 2022 average. Inventories are projected to be 23% more than the five-year average at the end of the first quarter.

https://talkbusiness.net/2023/03/quarterly-natural-gas-consumption-falls-to-lowest-level-in-5-years/