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| Fri, 10th Jul 2020 11:00:00 |
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U.S. Natural Gas Production, Consumption And Exports Hit Record In 2019 |
The United States produced, consumed, and exported record volumes of natural gas last year, following years of rising output due to fracking and horizontal drilling, the Energy Information Administration (EIA) said on Friday.
According to EIA’s estimates, domestic production of dry natural gas rose to nearly 34 trillion cubic feet (Tcf) while consumption increased to 31 Tcf in 2019, setting records.
In 2019, the United States exported a record level of nearly 5 Tcf of natural gas, predominantly by pipeline to Mexico and Canada or shipped overseas as LNG, the EIA said. Natural gas imports, on the other hand, dropped to their lowest levels since 2015.
U.S. natural gas exports surpassed imports in 2017 for the first time since 1957.
This year, however, higher stocks, the demand collapse from the pandemic, and the low natural gas prices are set to result in declines in American natural gas production. The supply of natural gas in the U.S. has been dropping this year as gas producers lower production amid low prices while oil producers scale back oil output and with it – associated natural gas production from oil-directed wells.
Read original full article
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