Financial firm LSEG said average gas output in the U.S. Lower 48 states rose to 111.5 billion cubic feet per day (bcfd) so far in August, up from a monthly record high of 110.7 bcfd in July.
Record output and mild spring weather this year have allowed energy firms to keep the amount of gas in inventory higher than the five-year (2021-2025) average since March.
Analysts said the amount of gas in storage would likely ease to 4.8% above normal during the week ended August 28, down from 5.5% above normal in the previous week, according to estimates ahead of the weekly federal inventory report on Thursday.
Gas inventories have remained in surplus despite weeks of above-normal temperatures this summer.
Meteorologists forecast the weather will remain mostly warmer than normal through September 15, forcing power generators to continue burning significant volumes of gas to keep air conditioners running. About 40% of U.S. power generation comes from gas-fired plants.
LSEG projected average gas demand in the Lower 48 states, including exports, would slide from 111.4 bcfd this week to 109.0 bcfd next week. Those forecasts were lower than LSEG's outlook on Friday.
Average gas flows to the nine big U.S. LNG export plants held at 17.2 bcfd so far in August, the same as July. That is still well below April's monthly record high of 18.8 bcfd.
On a daily basis, however, LNG feedgas rose close to a two-month high of around 18.4 bcfd.
The U.S. became the world's biggest LNG exporter in 2023, surpassing Australia and Qatar, as surging global prices fed demand for more low-cost U.S. gas.
Around the world, gas was trading near 43-month highs of around $24 per mmBtu at the Dutch Title Transfer Facility (TTF) benchmark in Europe and $23 at the Japan-Korea Marker (JKM) benchmark in Asia.
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