The U.S. is expected to continue its reign as the world’s largest natural gas producer this year as European countries work to halt their reliance on Russia’s gas in retaliation for Moscow’s war against Ukraine.
View of Cheniere’s Sabine Pass LNG Terminal from Walter Umphrey State Park, on Thursday, April 14, 2022 in Cameron Parish, LA.mark by the end of the year. Driving the growth are two major gas producing basins, the Appalachian, from Alabama to New York, and the Haynesville, from east Texas into Louisiana.record amounts in the Permian BasinThe output prediction comes as U.S. producers look to boost liquefied natural gas exports to Europe and other countries. U.S.
Russia’s war against Ukraine has forced European countries, which import most of their natural gas from Russia, to look for new suppliers. U.S. gas producers are hoping to fill in the gap, and there’s aInvestment in gas exploration and production has also been increasing, boosted by surging natural gas prices in the U.S. and abroad, according to Rystad. For years investors in the U.S.
The U.S. Department of Energy’s statistics and analysis arm, the Energy Information Administration, reports. The EIA said that will increase to a record 93 billion cubic feet per day in August. The Permian Basin is expected to produce a record 20.5 billion cubic feet per day in August, and the Haynesville a record 15.5 billion cubic feet per day, according to the EIA. At this pace, Rystad said, the country is on pace to surpass the EIA’s original prediction of 96.2 billion cubic feet per day for 2022.
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