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The EIA in their September 2021 Short-Term Energy Outlook (STEO) forecast natural gas inventories ended August 2021 at about 2.9 trillion cubic feet (Tcf, which is 7% lower than the five-year (2016–20) average for this time of year.

Sept 21 STEO Storage

Above-average withdrawals of natural gas from storage in the 2020–2021 winter heating season and below-average injections into storage this summer contributed to our forecast of below-average inventories of natural gas, along with relatively flat dry natural gas production and high natural gas exports.

In the August STEO the EIA forecast forecast that inventories will end the 2021 injection season (end of October) at almost 3.6 Tcf, which would be 5% below the five-year average. U.S. production of dry natural gas has remained relatively flat, averaging 91.5 billion cubic feet per day (Bcf/d) so far in 2021 (January–July), 0.4 Bcf/d below the same period in 2020.

Production in January 2021 and July 2021 both averaged 92.5 Bcf/d. Production of natural gas declined in February 2021 by more than 6.5 Bcf/d because of extremely cold weather and well freeze-offs, but it increased to 92.0 Bcf/d the next month.

U.S. exports of liquefied natural gas (LNG) have reached record-high levels so far in 2021 due to newly added LNG export capacity and increases in international natural gas and LNG prices.

Source: EIA

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