EIA Projects Record High Natural Gas Production and Consumption for 2016
Posted on Mar 9, 2016 in Federal Regulation, LNG Exports, Markets and Competition | Comments Off on EIA Projects Record High Natural Gas Production and Consumption for 2016
Reuters reports that U.S. natural gas production in 2016 is expected to reach a record high of 79.68 Bcf/day according to the U.S. Energy Information Administration’s (EIA) March 2016 Short-Term Energy Outlook. The forecast would be the sixth consecutive annual record high for U.S. gas production. Natural gas consumption is projected to increase to 76.79 Bcf/day, which would be the seventh consecutive annual record high. LNG gross exports are projected to increase to 0.5 Bcf/day in 2016 as a result of the recent startup of Cheniere Energy’s Sabine Pass LNG export terminal in Louisiana, and average 1.3 Bcf/day as the terminal ramps up its capacity.