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August 2019: Natural Gas Supply-Demand Balance Overview And Forecast

August 8, 2019  

The U.S. Energy Information Administration has recently released their natural gas monthly statistics for May 2019. In this article, we will briefly review their consumption and exports figures, then look at our estimates for June and July, and conclude with our latest forecast for August, September, and October.

May Overview

Aggregate demand (national consumption + exports) for American natural gas increased by 6.70% y-o-y in May 2019 to 79.78 bcf/d. Consumption edged up by only 2.90% y-o-y to 67.94 bcf/d due to cooler weather. However, exports surged by as much as 35.0% y-o-y to 11.85 bcf/d.

Overall, natural gas consumption for May was the highest level for the month since 2001 when EIA began using the current definitions for consuming sectors. Year-over-year total consumption of dry natural gas in May 2019 increased in three of the four consuming sectors. Deliveries of natural gas by consuming sector in May 2019 were:

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