Thanks to shale gas production, the United States became a net natural gas exporter on an annual basis in 2017, for the first time since 1957, after surpassing Russia in 2009 as the world’s largest natural gas producer.
Along with fast growing pipeline exports infrastructure, by June 2019 the United States turned into a net trade provider of natural gas and liquefied natural gas (LNG) to Canada, Mexico and other countries altogether, while still remaining a net importer of natural gas from Canada till 2050 according to latest projections.
Now, the U.S. Energy Information Administration (EIA) expects U.S. net natural gas exports to almost double again by 2021, after it doubled already in 2019 compared with 2018.
Overall, however, oil and natural gas production is intertwined and any future significant change in oil prices should logically impact the natural gas production’s financial results, thereby possibly questioning EIA’s forecast.
Days ago, U.S. natural gas prices fell to a 4-year low as demand has subdued even if supply is expected to keep growing in 2020 wrote the Financial Times.
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