The EIA released it’s natural gas storage report, and is available for download.
EIA expects that U.S. natural gas consumption will decline by 2.3 Bcf/d to 80.8 Bcf/d in 2021. The decline is primarily driven by a 3.5 Bcf/d decrease in natural gas consumed in the electric power sector because of higher natural gas prices. Higher natural gas prices would lead to natural gas-to-coal fuel switching and to more competition from renewable generation sources from expected renewable capacity additions in 2021. EIA forecasts natural gas consumption in the electric power sector to decline by another 1.7 Bcf/d to average 26.4 Bcf/d in 2022.
EIA expects slight increases in natural gas consumption in the industrial, residential, and commercial sectors because of expected economic growth (based on IHS Markit economic forecasts) and slightly cooler winter weather (based on National Oceanic and Atmospheric Administration forecasts).
EIA expects natural gas exports to continue to exceed natural gas imports in both 2021 and 2022. EIA forecasts that in 2021, natural gas pipeline exports and liquefied natural gas (LNG) exports will be nearly equal: exports by pipeline increase 0.6 Bcf/d to 8.6 Bcf/d and LNG exports increase 2.0 Bcf/d to 8.5 Bcf/d.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience in implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor in this space. Stuart has led the “Total Corporate Digital Integration” platform at Sandstone and works with Sandstone clients to help integrate all aspects of modern digital business. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage and is the Co-Host of the energy news video and Podcast Energy News Beat.
Stuart is on Board Member of ASN Productions, DI Communities
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.