The Energy Information Administration (EIA), in its Annual Energy Outlook report (AEO), published on Tuesday, said that the peak of U.S. gas production and demand will be in 2032.

EIA predicted that by 2032, the dry gas demand and production would reach a combined 92.4 billion cubic feet per day.

This compares to current record highs for both demand and output of 90.5 bcfd by 2024.

In the future, production is projected to drop to 112.9 billion cubic feet per day (bcfd) in 2040, and then rise to 115.2 in 2050. Demand, on the other hand, will fall to 80.7 in 2040, before increasing to 82.6 in 2050.

The EIA predicted that the average U.S. LNG exports will rise from 11.9 bcfd to a record 15.2 bcfd by 2025. This would then increase to 21.5 bcfd by 2030, 26.8bcfd by 2040 and 26.7bcfd by 2050.

EIA predicted that gas sales for residential customers would reach a high of 13.3 billion cubic feet per day (bcfd) in 2028. Commercial customers will see a 9.9-bcfd increase in 2050. Industrial customers will experience a 27.2-bcfd rise in 2050. Power generation is expected to decline to 23.0 Bcfd in 2050.

This compares to current all-time records of 14.3 billion cubic feet per day (bcfd) in 1996 for residential customers, 9.6 billion cubic feet per day in 2019 for commercial clients, 23.8 Bcfd for industrial customers in 1973 and 36.9 Bcfd for power generation in 2024. (Reporting and Editing by Franklin Paul, Marguerita Choy and Scott DiSavino)

(source: Reuters)