US EIA lowers Q3 gas demand forecast 1.78 Bcf/d to 72.16 Bcf/d

The US Energy Information Administration on July 7 lowered by 1.78 Bcf/d to 72.16 Bcf/d its natural gas demand estimate for the US in third-quarter 2021.

EIA, in its July Short-Term Energy Outlook, also lowered its full-year 2021 demand forecast by 0.53 Bcf/d to 82.32 Bcf/d.

The agency raised its gas marketed production estimates 1 Bcf/d to 100.76 Bcf/d for Q3, and by 0.72 Bcf/d to 100.01 for 2021.

EIA raised its forecast for Q3 Henry Hub natural gas spot prices 30 cents to $3.22/MMBtu.

The agency projected gas prices at the benchmark Louisiana point would average $3.22/MMBtu for 2021 and $3.00/MMBtu for 2022.
Source: Platts