• 1 day PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 1 day Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 1 day Syrian Rebels Relinquish Control Of Major Gas Field
  • 1 day Schlumberger Warns Of Moderating Investment In North America
  • 1 day Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 1 day Energy Regulators Look To Guard Grid From Cyberattacks
  • 1 day Mexico Says OPEC Has Not Approached It For Deal Extension
  • 1 day New Video Game Targets Oil Infrastructure
  • 1 day Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 2 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 2 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 2 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 2 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 2 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 3 days Conflicting News Spurs Doubt On Aramco IPO
  • 3 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 4 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 4 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 4 days China To Take 5% Of Rosneft’s Output In New Deal
  • 4 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 4 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 4 days VW Fails To Secure Critical Commodity For EVs
  • 4 days Enbridge Pipeline Expansion Finally Approved
  • 4 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 5 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 5 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 5 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 5 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
2 Red Flags For The World’s Top Shale Play

2 Red Flags For The World’s Top Shale Play

Changing legislation and taxation for…

UK Oil And Gas Costs To Rise 100% If Brexit Fails

UK Oil And Gas Costs To Rise 100% If Brexit Fails

Brexit negotiators’ failure to secure…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

U.S. Set To Become Net Natural Gas Exporter By Year-End

LNG

The United States should become a net natural gas exporter by the end of 2017, according to the latest Short-Term Energy Outlook (STEO) released by the Energy Information Administration (EIA) today.

The U.S. has been a net exporter in three of the past four months, according to the agency’s data. The trend should continue until annual figures tally out in favor of the nation’s trade balance sheet.

The American natural gas sector took the top global production spot back in 2009, surpassing the industrial power of Russia. Total output stood at 72.5 billion cubic feet per day last year, compared to 55 Bcf/d back in 2008. Ninety-six percent of all production is consumed domestically, but a larger share is being prepped for exports to Asia as the Trump administration’s energy export strategy begins to take hold.

A pipeline to Mexico will help boost natural gas exports to the U.S.’ southern neighbor by 2019. Mexico City plans to increase it utilization of gas by 50 percent by the year 2020, creating more demand for American gas.

In March 212017, U.S. natural gas exports to Canada reached 3.21 billion cubic feet/day, nearly breaking a record of 3.25 Bcf/d set in 2012. Imports of Canadian natural gas, which reached a peak of 12 Bcf/d in 2007, were around 8 Bcf/d.

Related: Washington Mulls Over Additional Sanctions Against Venezuela

Liquified natural gas (LNG) is another booming field in the nation’s fossil fuel future. Five new liquefaction facilities are currently under production at Cove Point, Cameron, Elba Island, Freeport and Corpus Christi, carving out a sizable nook for the cost-effective transport of natural gas over ships via especially refrigerated ships.

“Based on construction plans, EIA expects that by 2020 the United States will have the third-largest LNG export capacity in the world after Australia and Qatar,” the report reiterated.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News