GAZB - February 2021: Natural Gas Supply-Demand Balance Overview And Forecast
- In this article, we review EIA consumption and export figures, look at our estimates for December and January, and conclude with our latest forecast for February, March, and April.
- On a 12-month average basis, natural gas exports now equate to around 14.60% of total demand - a new all-time record.
- After plunging by 12.0% y-o-y in November, we estimate that total natural gas consumption then edged higher by 2.11% y-o-y in December and by 2.54% in January.
- Under the latest weather forecasts, we project that total natural gas consumption in contiguous United States will increase by 5.60% y-o-y over the next three months (February to April).
- Total supply-demand balance will remain tight vs 2020 and annual storage deficit should expand by as much as 468 bcf by March 12.
For further details see:
February 2021: Natural Gas Supply-Demand Balance Overview And Forecast