US natural gas output at ‘record high’

Natural gas output in the US is hitting record levels, according to new data released by the Government. The US Energy Information Administration (EIA) said production climbed to 70.21 billion […]

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By Priyanka Shrestha

Natural gas output in the US is hitting record levels, according to new data released by the Government.

The US Energy Information Administration (EIA) said production climbed to 70.21 billion cubic feet lastsyear and is projecting output to rise 1.45 billion cubic feet per day or 2.1% this year.

Since 2005, significant production growth has outpaced rising consumption in the US, reducing imports of natural gas by 58% between 2005 and 2012.

The EIA however lowered its estimate for gas consumption this year by 2.2% from 2013 levels to 69.71 billion cubic feet per day. It said gas usage should decline in 2014 due to a forecast drop in consumption by the industrial and power sectors.

Last week the chief executive of oil giant ExxonMobil said the US could be energy self-sufficient by 2020.