GAZB - December 2020: Natural Gas Supply-Demand Balance Overview And Forecast

• The year-over-year average daily rate of consumption of dry natural gas in September 2020 increased in two of the four consuming sectors and decreased in the other two.
• Residential deliveries were the highest for the month since 2003. Commercial deliveries were the lowest for the month since 2016.
• Industrial and electric power deliveries were the second highest for the month since EIA began using the current definitions for consuming sectors in 2001.
• Over the next three months (December to February), total supply will be declining (on an annualized basis), while total demand will remain largely flat ensuring that total supply-demand balance will be tighter relative to 2019.
• Annual storage surplus is currently projected to shrink by 245 bcf by January 8.

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