U.S. natural gas production and demand will both rise in 2022 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.

EIA projected that dry gas production will rise to 96.69 billion cubic feet per day (bcfd) in 2022 and 99.15 bcfd in 2023 from a record 93.56 bcfd in 2021.

The agency also projected that gas consumption would rise to 84.59 bcfd in 2022 from 82.97 bcfd in 2021 before sliding to 84.26 bcfd in 2023. That compares with a record 85.29 bcfd in 2019.
Source: Reuters (Reporting by Scott DiSavino)