The American energy private sector has delivered a major victory for the first time in sixty years.
Here’s more from Energy In Depth:
The United States exported more natural gas than it imported in 2017, according to a reportfrom the U.S. Energy Information Administration released on Monday. Driven by growth in domestic production through shale development, this marks the first time since 1957 that the United States has been a net exporter of natural gas. With production growth expected to continue, as well as new liquefied natural gas (LNG) terminals coming online over the next few years, America’s future as a player in the global natural gas market looks remarkably bright.
The United States, already the world’s largest producer of natural gas and petroleum liquids, saw natural gas production soar to remarkable heights last year. With production growing at breakneck speed in the Permian and Appalachian basins, U.S. natural gas production increased almost 43 percent from 2007 to 2017, reaching an average of 73.6 billion cubic feet per day (Bcf/d) last year, which was just shy of the all-time record. As a result, the United States reduced its reliance on foreign natural gas imports by 66 percentin the last decade and solidified its position as a global exporter of natural gas.