BAKU, Azerbaijan, November 10. Anticipating an average US dry natural gas production of nearly 105 Bcf/d in the latter half of 2023, up by nearly 2 Bcf/d from the first half, the US Energy Information Administration Agency (EIA) foresees this production level persisting during the winter heating season, Trend reports.
Thus, the US dry gas production in 2023 is expected to amount 103.7 Bcf/d, with further increase amounting to 105.1 Bcf/d in 2024.
As October concludes, marking the end of the US natural gas storage injection season (March-October), the EIA anticipates that US working natural gas in underground storage has reached 3,835 billion cubic feet (Bcf) - a 6-percent increase compared to the five-year average (2018-2022).
Fueled by robust natural gas production and an anticipated milder winter, the agency's projection is that US natural gas inventories will conclude the winter heating season in March with a 21-percent surplus, totaling just under 2,000 Bcf in storage.
Despite the expectation of a warmer-than-average winter, with 4 percent fewer heating degree days compared to the prior 10-year average (2013–2022), leading to a 2-percent reduction in consumption for space heating in the commercial and residential sectors compared to the five-year average, we project January and February to be colder than the warmer-than-average counterparts of last year.