EIA Trims US Gas Output Estimate

From Upstream

In its August Short-Term Energy Outlook, the EIA said it expected marketed gas production in 2013 to rise 710 million cubic feet per day to 69.89 billion cubic feet per day, down from its July outlook of 69.96 Bcf daily, Reuters reported.

Despite the downward estimate, 2013 would still mark the third straight year of record US production.

Domestic output in 2014 is expected to set another record high, up 570 MMcfpd to 70.46 Bcf daily. The EIA had previously estimated 2014 production at 70.41 Bcfpd.

The agency, noting that the economics remain more favourable for onshore gas development, continues to expect production growth from onshore fields to more than offset declines in federal Gulf of Mexico output.

Imports of LNG are expected to remain at minimal levels of around 400 MMcfpd in both 2013 and 2014, EIA said.

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