Natural Gas Demand Outpaces Production

Natural gas demand in major consuming countries stood in June at 104 percent of year-ago levels, but production was flat compared to 2021 levels, new data from the Joint Organisations Data Initiative (JODI) showed on Wednesday. While U.S. natural gas production has been rising in recent months alongside LNG exports, Russian gas production has plummeted since Russia invaded Ukraine at the end of February. In June, Russian gas production plummeted 18 percent month on month, falling for three consecutive months. Russia’s gas output in June was…