Today in Energy

The U.S. Gulf Coast is a key supplier of motor gasoline and distillate fuel to the U.S. East Coast. During March 2022, the East Coast received an average of 1.9 million barrels per day (b/d) of gasoline and 0.9 million b/d of distillate by pipeline, tanker, and barge from the Gulf Coast.

In 2020, when drought resulted in decreased hydroelectric power, Colombia imported 14.2 billion cubic feet (Bcf) of natural gas, which helped the country meet natural gas demand for electricity, according to our recently updated Colombia Country Analysis Brief.

Our new report, titled Global Surplus Crude Oil Production Capacity, provides estimates of global surplus crude oil production capacity in both OPEC countries and non-OPEC countries. Preliminary estimates for these data show that, as of May 2022, surplus capacity in non-OPEC countries decreased by 80% compared with 2021. The data show that, in 2021, 1.4 million barrels per day (b/d) of surplus production capacity was available in non-OPEC countries, about 60% of which was in Russia. As of May 2022, we estimate that all surplus production capacity in Russia was eliminated due to the sanctions implemented after Russia's full-scale invasion of Ukraine. We determined that excess oil production capacity declined in other non-OPEC producing countries as well. We estimate that, as of May 2022, producers in non-OPEC countries had about 280,000 b/d of surplus production capacity.

On June 8, 2022, a fire at Freeport LNG's natural gas liquefaction plant on the Gulf Coast in South Texas led to the full shutdown of the facility. The shutdown of Freeport LNG will reduce total U.S. liquefied natural gas (LNG) export capacity by approximately 2 billion cubic feet per day (Bcf/d), or 17% of total U.S. LNG export capacity.

As of June 3, 2022, pipeline companies completed two crude oil pipeline projects in the United States, according to our recently updated Liquids Pipeline Projects Database. No new hydrocarbon gas liquids or petroleum product pipeline projects were completed in the first five months of 2022.