US Natural Gas Consumption Hits New Heights Despite Record Heat
US natural gas-fired generation consumed more natural gas over the past week than during any week of July, despite record heat. According to NGI's Entropic Analytics data, power burn averaged 52.53 Bcf/d in the seven days through Wednesday, edging past July's strongest seven-day stretch. Power burn peaked Monday at 55.56 Bcf/d, the most since July 27.
The National Oceanic and Atmospheric Administration confirmed in a recent report that July was the warmest month in a 132-year record. Overnight lows averaged a record 64.2 degrees Fahrenheit, while daytime highs ranked only sixth warmest. Injections into storage had shrunk to 28 Bcf by the week ended July 24 from 61 Bcf in early July.
Forecasters give the Southern Plains a better than 50% chance of above-average August temperatures. This could further strain natural gas supplies, particularly with US LNG feedgas demand rebounding Wednesday. Flows totaled about 18.13 Bcf/d, up roughly 980 MMcf/d day/day and about 300 MMcf/d above a week earlier.