In December 2022, natural gas consumption in the United States lower 48 states reached a daily record high of 141.0 billion cubic feet (Bcf), according to estimates from S&P Global Commodity Insights.
It is over the record of 137.4 Bcf, set on January 1, 2018.
Natural gas consumption in the electric power sector averaged 37.8 Bcf/d from December 21 through December 26, or 45% higher than the five-year average (26.0 Bcf/d) for those days, the Energy Information Administration (EIA) said in a statement.
Dry natural gas production in the Lower 48 states dropped to a low of 82.5 Bcf on December 24, a 16% decrease (16.1 Bcf/d) from December 21, according to data from S&P Global Commodity Insights.
The EIA informed that natural gas pipeline imports from Canada supplied 10.4 Bcf of natural gas to the United States on December 24, the highest natural gas imports from Canada in one day since February 2007, according to data from S&P Global Commodity Insights.
Why is natural gas becoming so relevant in the US?
In the last 10 years, natural gas has become increasingly important to the upstream oil industry in the United States for several reasons.
One of them is a new market demand that has increased for this hydrocarbon as a cleaner and more efficient source of energy, particularly in power generation.
Another one is the Shale Gas Revolution in the US, which has made it a major player in the global natural gas markets.
Finally, its export potential, the US has become a major exporter of natural gas, particularly to Mexico, with increasing demand from Europe and Asia.
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