Issue 104- LNG Ship Loading Sabine Pass
Introduction..The United State is already the world’s largest producer of natural gas. The International Energy Agency (IEA) expects by 2022 U.S. will be the world’s largest exporter of natural gas. The U.S. is expected to produce 890 billion cubic meters (bcm,) more than a fifth of the global gas output.
The demand…Global natural gas demand is expected to grow 1.6% a year for the next five years, with consumption on track to hit almost 4,000 billion cubic meters by 2022.
“Also, the rising number of liquefied natural gas (LNG) consuming countries, from 15 to 30 this year, shows that LNG attracts many new customers especially in the emerging world,” said IEA Executive Director Fatih Birol said in a statement Thursday.
The supply…”The U.S. shale revolution shows no sign of running out of steam and its effects are now amplified by a second revolution of rising LNG supplies,” Birol. Three major LNG terminals are under construction on Texas coast will double the number of U.S. ports currently in use.
What this means to us…This continued demand for natural gas will keep the drillers active in the Utica/Marcellus shale play where our newest projct is located. The project cleans drilling mud and produced water benefiting from the increased LNG shipping capacity. Send me an email at email@example.com for insider information.
Source: David Reid, “U.S. on course to become world’s largest exporter of natural gas: IEA,” CNBC, 13 Jul 2017