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U.S. forecasts rise in net natural gas exports in 2020, 2021

HOUSTON
2020-01-15 12:55

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HOUSTON, Jan. 14 (Xinhua) -- The U.S. Energy Information Administration (EIA) on Tuesday forecast that U.S. net natural gas exports will rise to average 7.3 billion cubic feet (about 206.71 million cubic meters) per day in 2020 and 8.9 billion cubic feet per day in 2021.

In particular, EIA expected that U.S. liquefied natural gas (LNG) exports will increase to 6.5 billion cubic feet per day in 2020 and 7.7 billion cubic feet per day in 2021, compared with 5.0 billion cubic feet per day in 2019.

EIA's data showed that the United States exported more natural gas than it imported in 2019, with net exports averaging 5.3 billion cubic feet per day, up 2.0 billion cubic feet per day from 2018.

EIA estimated that U.S. dry natural gas production set a new record in 2019, averaging 92.0 billion cubic feet per day. It forecast U.S. dry natural gas production will rise to 94.7 billion cubic feet per day in 2020, which is largely in response to improved drilling efficiency and cost reductions, higher associated gas production from oil-directed rigs, expansions in LNG capacity and increased takeaway pipeline capacity.

It also forecast that U.S. dry natural gas production will decline to 94.1 billion cubic feet per day in 2021, in response to a forecast of low natural gas spot prices in 2020 that reduces drilling activity.
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