U.S. natural gas production hit new record in 2018: EIA

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HOUSTON, March 14 (Xinhua) -- U.S. natural gas production in 2018 hit a new record high, the U.S. Energy Information Administration (EIA) said on Thursday.

In 2018, U.S. natural gas production measured as gross withdrawals averaged 101.3 billion cubic feet per day (Bcf/d), the highest volume on record.

The production grew by 10.0 Bcf/d during 2018, an 11 percent increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year.

According to EIA, U.S. natural gas gross withdrawals increased every month during 2018 except in June, ultimately reaching a record monthly high of 107.8 Bcf/d in December 2018. Marketed natural gas production and dry natural gas production also hit monthly record highs of 95.0 Bcf/d and 88.6 Bcf/d, respectively,

The U.S. state of Texas saw the largest total volumetric gain in gross withdrawals in 2018, increasing to 24.1 Bcf/d, up 21.9 Bcf/d in 2017. Texas's increase in natural gas production was mainly driven by the development in the Permian Basin and Haynesville Shale formation.

As natural gas production increased, the volume of natural gas exports, both through pipelines and as liquefied natural gas (LNG), increased for the fourth consecutive year in 2018, reaching 9.9 Bcf/d.

In 2018, total natural gas exports grew by 14 percent, and LNG exports grew by 53 percent. Both pipeline and LNG exports reached record monthly highs in December 2018 of 7.7 Bcf/d and 4.0 Bcf/d, respectively.

The United States continued to export more natural gas than it imported in 2018, after being a net exporter in 2017 for the first time in nearly 60 years.

According to the "Oil 2019: Analysis & Forecast to 2024" outlook, released by the International Energy Agency at the CERAWeek earlier this week, the United States will provide 75 percent of the increase in global natural gas supply by 2024. Enditem

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