August 27, 2019
It’s no surprise that the global demand for natural gas continues to grow, with the majority of resources coming from the United States. This growth has far-reaching consequences on energy trade, air quality and carbon emissions, as well as the security of global energy supplies, which was detailed in this 2017 report, Gas 2017.
The United States – the world’s largest gas consumer and producer – will account for 40% of the world’s extra gas production to 2022 thanks to the remarkable growth in its domestic shale industry. By 2022, US production will be 890 bcm, or more than a fifth of global gas output.
While US domestic demand for natural gas continues to grow, more than half of the production increase will be used for liquefied natural gas (LNG) for export. By 2022, the IEA estimates that the United States will be on course to challenge Australia and Qatar for global leadership among LNG exporters.
“The US shale revolution shows no sign of running out of steam and its effects are now amplified by a second revolution of rising LNG supplies,” said Dr Fatih Birol, the IEA’s Executive Director. “Also, the rising number of LNG consuming countries, from 15 in 2005 to 39 this year, shows that LNG attracts many new customers, especially in the emerging world. However, whether these countries remain long-term consumers or opportunistic buyers will depend on price competition.”
Dr Birol added, “The environmental advantages of natural gas, particularly when replacing coal, also deserve more attention from policy makers.”
According to EPA data, US natural gas producers have reduced methane emissions by 17 percent since 1990 (even as production grew some 37 percent over the same period). That strong record of achievement has allowed the United States to reduce its greenhouse gas emissions and achieve major improvements to air quality, while meeting our energy security needs.
US LNG will be a catalyst for change in the international gas market, diversifying supply, challenging traditional business models and suppliers, and transforming global gas security.
Based upon scientific, concrete, and verifiable goals, ONE Future uses the latest technology and methodology to reduce methane emissions across the entire natural gas supply chain. Our member companies have a long, successful history in finding, producing, processing, transporting, and delivering natural gas to residential and industrial consumers across the United States; ensuring that global demand will be met safely and efficiently.