US gas production drops amid winter storm

Natural gas production in the United States is expected to sharply decline in comparison with figures from the winter 2021. This is due to the fact that freezing weather in main production regions led to well closures.

According to preliminary data from Bloomberg NEF, daily gas production for heating and power generation was estimated at less than 96 billion cubic feet on Thursday. The day before, the figure was at 100 billion. That result had to be the biggest one-day drop in production since February 3, when severe freezing temperatures and snow hit Texas.

This week, low temperatures with forecasts of flooding and heavy snowstorms spread from the Pacific Northwest to New England and the Gulf of Mexico. However, the outages are not expected to last long. Consequently, there is no reason to fear a recurrence of the Texas’ catastrophe in 2021 for now.