U.S. natural gas production will rise to a record high in 2022, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday.
EIA projected dry gas production will rise to 96.59 billion cubic feet per day (bcfd) in 2022 and 100.02 bcfd in 2023 from a record 93.55 bcfd in 2021.
The agency also projected gas consumption would rise from 82.97 in 2021 to 85.16 bcfd in 2022 before sliding to 83.84 bcfd in 2023. That compares with a record 85.29 bcfd in 2019.
The EIA’s latest supply projection for 2022 was higher than its July forecast of 96.23 bcfd, while its demand projection was lower than its July forecast of 85.85 bcfd.
The agency forecast average U.S. liquefied natural gas (LNG) exports would reach 11.16 bcfd in 2022 and 12.68 bcfd in 2023, up from a record 9.76 bcfd in 2021.
That was higher than its July forecast of 10.85 bcfd in 2022 due to the earlier than previously expected return to service of the Freeport LNG export plant in Texas in early October.
The EIA projected U.S. coal production would rise from 578 million short tons in 2021 to 599 million short tons in 2022 and 601 million short tons in 2023 as demand for the fuel increases overseas.
In 2020, coal output fell to 535 million short tons, its lowest since 1965.
As the economy grows and consumers burn more oil and gas, the EIA projected carbon dioxide emissions from fossil fuels would rise to 4.943 billion tonnes in 2022 from 4.872 billion tonnes in 2021, before falling to 4.864 billion tonnes in 2023.
That compares with 4.577 billion tonnes in 2020, which was the lowest since 1983 because the coronavirus pandemic depressed demand for energy.
(Reporting by Scott DiSavino; Editing by Mark Porter and Emelia Sithole-Matarise)