US Energy Information Administration news

US natural gas pipeline exports to Mexico set a new record in June 2023, surpassing the previous record set in June 2021.

The US Energy Information Administration (EIA) expects LNG import capacity to increase in 2023–24 and reports that several countries are in advanced stages of developing LNG import capacity.

The EIA expects new milestones for US crude oil production amid sustained global petroleum demand and rising prices.

US natural gas production has outpaced demand, resulting in more natural gas injected into storage midway through the 2023 refill season.

The US Energy Information Administration (EIA) has reported that natural gas deliveries to US LNG export facilities increased in 1H23.

In 2022, global trade in LNG increased by 2.6 billion cubic feet per day, or 5% compared with 2021, and averaged 51.7 billion cubic feet per day, according to data from CEDIGAZ.

The EIA expects global oil production to be lower than previously expected after OPEC+ announced that it will extend its crude oil production cuts, and Saudi Arabia announced an additional cut of 1 million bpd.

According to data from Gas Infrastructure Europe’s Aggregated Gas Storage Inventory, natural gas storage inventories were 56% full as of 1 April 2023 – the highest percentage on record for the end of a heating season.

In 2022, US ethane demand increased by approximately 9%, or almost 0.2 million bpd, to support the growing petrochemical industry.

The EIA forecasts that US refinery utilisation will remain similar to 2022, at above 90% over the next two years, as the industry returns to more typical rates after low refinery utilisation in 2020 and 2021.