Commodity Market Report
North America gas weekly update: Triple-digit daily US gas production
Report summary
For the first time ever, daily US gas production has eclipsed 100 bcfd. This significant milestone comes in much earlier than forecast, despite little contribution from the Northeast region. The Haynesville and Permian continue to be the key drivers of US gas production growth. Higher supply is swamping falling seasonal demand along with LNG outages. Record high injections for the fall shoulder season are resulting and may continue until material heating loads begin to arise. Given current mild forecasts, that may have to wait until later in November. In the meantime, the North America gas market wonders: • When will triple-digit storage injections stop? • Will Freeport LNG restart on time to soak up excess supply? • Can US gas production ramp up even higher?
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