In fact, this growth came due to the mild winter temperatures and the continuing strong production. EIA further expects that net injections during the refill season from April 1st until October 31st, will bring the total working gas in storage to 4.029 Bcf, which in case it is realized, it would be the largest monthly inventory level ever recorded.

Credit: EIA

 

Moreover, the total natural gas in storage at the start of this heating season was 3.725 Bcf on October 31, 2019. The Energy Administration expects withdrawals from working natural gas storage to total 1.790 Bcf at the end of March 2020, meaning that it would be the least natural gas withdrawn during a heating season since the winter of 2015–16, when temperatures were mild as well.

Additionally, the natural gas demand is more intense during the winter months, when residential and commercial demand for natural gas for space heating increases. Although, natural gas consumption in the power sector from its side, is greatest in summer months, when overall electricity demand is relatively high because of air conditioning.

Concluding, EIA recently issued its Annual Energy Outlook 2020 (AEO2020) highlighting that the total US dry gas production will continue growing until 2050, giving a boost to the US exports of natural gas to the shipping market globally.