U.S. gas production will need to increase significantly to continue growing exports while ensuring fuel remains affordable for domestic power producers, households and industrial users.
Domestic consumption increased by 440 billion cubic feet, with electricity generators accounting for 382 billion.
As a result, inventories depleted by 876 billion cubic feet in the first six months of 2022 compared with just 246 billion in the first six months of 2019. A significant share of natural gas output is associated gas produced as a by-product of crude oil production from crude oil wells. Current rigs are likely to produce more gas than a similar-sized fleet three years ago because technology has improved, enabling faster drilling, longer underground laterals and a tighter focus on the most gas-rich areas.
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