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US natgas output to decline in 2024, while demand rises to record high, EIA says

Thursday, 11 July 2024 | 00:00

U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.

EIA projected dry gas production will ease from a record 103.8 billion cubic feet per day (bcfd) in 2023 to 103.5 bcfd in 2024 as several producers reduce drilling activities after gas prices NGc1 fell to 3-1/2-year lows in February and March.

In 2025, EIA projected output would rise to 105.2 bcfd.

The agency also projected domestic gas consumption would rise from a record 89.1 bcfd in 2023 to 89.4 bcfd in 2024 before easing to 89.2 bcfd in 2025.
Source: Reuters (Reporting by Scott DiSavino)

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