The US could become a net exporter of natural gas within the next two years.
That’s the prediction made by the Energy Information Administration (EIA), which states the nation will make that transition from a net importer as its shale gas production continues to grow.
Its new report suggests increases in domestic gas production are expected to reduce demand for imports from Canada and support growth in exports to Mexico, Asia and Europe.
By 2040, the US could export between 0.2 trillion cubic feet (Tcf) and 10.3 Tcf of liquefied natural gas (LNG).
“Most of the growth in US net natural gas exports occurs before 2030 as increased domestic natural gas supply satisfies new demand both internationally and domestically. Increased shale gas production accounts for three-quarters of the increase in total dry gas production,” the EIA states.