U.S. natural gas production and demand will both rise in 2022 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected that dry gas production will rise to 96.71 billion cubic feet per day (bcfd) in 2022 and 101.71 bcfd in 2023 from a record 93.55 bcfd in 2021. The agency also projected gas consumption would rise from 82.97 in 2021 to 85.73 bcfd in 2022 before sliding to 85.28 bcfd in 2023. That compares with a record 85.29 bcfd in 2019. EIA’s May supply projection for 2022 was smaller than its April forecast of 97.41 bcfd, but its demand projection was bigger than its April forecast of […]