Cold has arrived, and with it, surging demand. U.S. natural gas consumption hit 98 Bcf per day on November 10, an increase of 33 percent from five days prior. Heating requirements for homes and businesses provided the main thrust as residential/commercial consumption jumped 93 percent during those five days. Power generation climbed eight percent over that period; exports, while strong, ticked up a mere 2.7 percent.
How much energy is 98 Bcf? The rate at which 98 Bcf per day flows chemical energy into the economy is equivalent to 1,230 GW. By comparison, the U.S. power grid boasts a little more than 1,000 GW of net summer capacity. In other words, natural gas, as it does every winter, supplies a lot of our energy needs.
Visit this link to download the full Natural Gas Market Indicators report. Topics covered in this week’s report include: Reported Prices, Weather, Working Gas in Underground Storage, Natural Gas Production, Shale Gas, Rig Counts, Pipeline Imports and Exports, and LNG Markets.