News

Natural gas production to make U.S. a net energy exporter

State Impact | 1/5/17

Within the next decade, the U.S. could be exporting more energy than it imports, something that has not occurred since the early 1950′s. The Energy Information Administration projects that under a number of different scenarios, exports of natural gas will increase as petroleum liquid imports decrease, making the country an energy exporter by 2026.

The U.S. typically imports crude oil, and exports products like diesel and gasoline. An export ban on crude oil was lifted in 2015, while new liquefied natural gas (LNG) export terminals began shipping gas overseas in 2016. Additional LNG terminals are planned within the next several years, including one in Lusby, Maryland, which will be converting Marcellus Shale gas to LNG for export. Operated by Dominion Resources, the Cove Point terminal is scheduled for completion at the end of 2017.

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United States may become net energy exporter by 2026, EIA reports

CNBC | 1/5/17

The United States could become a net exporter of energy by 2026 as domestic production rebounds and demand at home remains flat, the U.S. Energy Information Administration said Thursday in a new report.

In its Annual Energy Outlook 2017, the EIA sees a surge in natural gas exports and improvement in the trade balance of petroleum products causing the United States to become a net energy exporter by 2026. It would be the first time the nation held that status since 1953.

As a net exporter, the United States would still import oil, natural gas and other energy sources, but it would send out more of these products produced at home than it takes in from foreign sources.

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Forget Latin America, Asia Is the Biggest U.S. LNG Buyer Now

Bloomberg | 1/4/17

Asia’s finally becoming a prime destination for U.S. shale gas cargoes.

At least 10 of the 12 tankers bearing liquefied natural gas that left Cheniere Energy Inc.’s Sabine Pass terminal in Louisiana in December are headed for Asian countries, shipping data compiled by Bloomberg show. The December tally surpasses November’s record of 10 departures. Sabine Pass is the only terminal shipping U.S. shale gas overseas.

The departures include the Seishu Maru, which left Sabine Pass on Dec. 22 for China, and Stena Clear Sky, which shipped out on Dec. 10 for Japan. That’s a shift away from Latin America since exports began in February.

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