US gas demand decline led by lagging industrial use

Natural gas consumption is expected to decline 1.3% this year from a year ago, reflecting sharp reductions in industrial gas demand.That's the forecast of the US Energy Information Administration. The US economic slowdown and the absence of any sustained and broad-based boost in fuel use from summer electricity demand have pushed up gas supplies, EIA said.At the end of August, working gas in storage amounted to about 2.603 tcf, 19% above the low year-ago levels and 7.6% above the previous 5-year average. Click here to enlarge imageAgency forecasters said the current gas situation is one that few, if any, foresaw when stocks fell to extraordinarily low levels at the end of the heatin...

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