With an average figure of 88.5 billion cubic feet per day (Bcf/d), 2022 had the highest Natural Gas consumption per year since it began to be measured, in 1949.
According to data from the US Energy Information Administration in its monthly report, 9 of the 12 months of the year reported a record in consumption.
Part of this was that coal generating plants were retired, the high price and the lack of this fuel, limiting its use to generate electricity, which was what took a large part of the consumption of natural gas with 38% of its use.
The demand by the residential and commercial part of the fuel had 2 peaks: during the winter due to the very low temperatures that have been registered, and during the summer, due to the strong heat and the needs of power generation for air conditioning.
The highest record months of 2022 were set in January and July.
In December, low temperatures in the lower 48 US states led to increased use of heating that is delivered directly or indirectly to homes by natural gas-fired power plants, setting a new consumption record.
Liquefied natural gas exports will continue to rise
The EIA in its March monthly Short-Term Energy Outlook (STEO) report forecast that US LNG exports will average 12.1 billion cubic feet per day (Bcf/d) in 2023, an increase of 14% compared to last year.
Likewise, it is expected that the United States will continue to be the largest exporter of LNG in the world.
They forecast that US LNG exports will increase to approximately 14 Bcf/d by December 2024 because some export projects under construction are expected to start operating by then, some of these in Mexico scheduled to start operating in 2023-24.
By pipeline they expect exports to grow 0.5 Bcf/d in 2023 as well as in 2024.
Expansion is also expected through the Sur de Texas-Tuxpan underwater pipeline to supply the floating liquefaction project off the east coast of Mexico.
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