Energy trade publisher and data provider S&P Global Platts reports that this month the United States is a net exporter of natural gas, exporting an average of 7.4 billion cubic feet a day (bcf/d) – topping the 7 bcf/d the U.S. imported.
Given the fact it has been nearly 60 years since the U.S. exported more natural gas than it imported annually, that’s a pretty big milestone. Even if it’s just for November, the data indicates where things appear to be headed. The U.S. Energy Information Administration projected the U.S. would become a net exporter annually in 2018, but quite clearly it’s already starting.
Perhaps more importantly, the November natural gas export/import numbers suggest new U.S. muscularity in the global energy marketplace, built by America’s domestic energy renaissance. Record natural gas output, largely developed with advanced hydraulic fracturing and horizontal drilling, is creating export opportunities for U.S. liquefied natural gas (LNG) and increasing U.S. energy influence globally.
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