Invezz.com – Natural gas production in the United States has increased significantly to meet the growing demand for power generators that operate air conditioners.
Average daily production reached 98.2 billion cubic feet in June, surpassing May’s 25-month low.
Response to rising future prices
Experts indicate that the increase in gas production is a direct consequence of the notable increase in future prices that was recorded in April and May.
This month, leading gas production companies such as EQT have confirmed that they will increase their production to meet growing demand.
Hot weather forecast increases demand
Forecasters anticipate that the warm weather will continue until at least July 5, which will continue to increase demand for gas for power plants.
The energy market is experiencing a significant increase in production due to this phenomenon.
Challenges in gas exports
Despite increased gas flows to major US LNG export terminals such as Cameron LNG, Cheniere Energy’s Sabine Pass and Venture Global’s Calcasieu Pass, they are still operating below full capacity due to maintenance in Louisiana facilities.
The country’s natural gas export industry is in a difficult situation due to this situation.
Leading production companies, such as EQT, are responding to the growing demand for natural gas by intensifying their production to meet market needs.
To meet the increased demand for power generators that operate air conditioners, these companies are increasing their gas production.
These companies seek to take advantage of market opportunities and remain competitive by increasing their production levels.
Market opportunities due to increased natural gas production
Companies are looking to take advantage of several market opportunities by increasing natural gas production. This may include higher prices due to increasing demand and favorable conditions.
Additionally, by meeting the growing demand for power generators during peak consumption, companies can strengthen their competitive position and open up export opportunities in an expanding global market, which could boost their long-term growth and profitability.
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