US February Output, Exports Rise (Correction)
(Removes wrong reference to storage withdrawals from para 2)
US gas production grew 5.2% yr/yr in February 2020 and its exports soared as the domestic demand drop also boosted the deliveries to the international markets.
In February 2020, for the 34th consecutive month, the US dry natural gas production increased yr/yr for the month, standing at 94.1bn ft3/d (2.664bn m3/d), or 5.2% higher than February 2019, the Energy Information Administration said April 30.
Despite growth in output, estimated gas demand in February was 104.7bn ft3/d, a 2.3% decline yr/yr. The biggest demand fall came from residential sector, consuming 25.2bn ft3/d, about 12.2% less than February 2019 in a milder winter.
Commercial demand fell 8.7% to 15.4bn ft3/d and industrial demand fell by 1.7% to 25.1bn ft3/d. But power plants used 30.4bn ft3/d in February, up 9.9%, displacing coal.
US net natural gas imports were 7.4bn ft3 in February 2020, making the US a net exporter. It imported 8.2bn ft3/d (1.4% decline yr/yr) and exported 15.6bn ft3/d (32.2% growth yr/yr). As well as LNG, the US exports gas by pipeline to Mexico.
LNG continues to drive the exports boom. LNG exports in February 2020 more than doubled compared with February 2019. In February 2020, the US exported 7.8bn ft3/d LNG to 24 countries. The average daily rate of LNG exports was the second highest for any month since EIA began tracking them in 1997, excepting January 2020, when the volume was 8.1bn ft3/d.