reported that U.S. natural gas supply has hit a record 3,978 trillion cubic feet, good for a 3.6% increase from the 2020 estimate with shale gas dominating supply at 61%. The country’s technically recoverable resources, however, fell slightly by 0.5% to 3,352 Tcf likely due to some volumes being shifted to other categories. The Atlantic region, home to the gas powerhouse Marcellus and Utica shale plays, harbors the lion’s share of supplies at 40% of estimated gas resources.
” Richard Meyer, the American Gas Association's vice president of energy markets, analysis and standards, has said.The availability of pipelines to get the product out of the shale gas fields in particular--there's only so much they can get to market without more of that infrastructure. So for that reason, you might have inactive wells.‘Pipeline constraints’ is becoming an increasingly common refrain.
. The U.S. Energy Information Administration has forecast that U.S. LNG exports will continue to grow in 2024, as two LNG projects come online: Golden Pass in Texas and Plaquemines in Louisiana.. They are being built at an existing LNG import terminal in Texas that will be converted into an LNG export facility consisting of three trains, each with 0.68 Bcf/d of nominal capacity, or 0.80 Bcf/d of peak capacity.
, Trains 1 and 2 will come into service during the second and fourth quarters of 2024, respectively while Train 3 will come online in the first quarter of 2025. is a Venture Global project located in Louisiana. Phase 1 consists of 9 blocks, each containing 2 liquefaction trains for a total of 18 liquefaction trains with a combined nominal capacity of 1.3 Bcf/d, or peak capacity of 1.6 Bcf/d.
EIA notes that current international natural gas market conditions are conducive for expanding U.S. LNG exports, with natural gas prices in Europe and Asia relatively high compared with U.S. natural gas prices. Meanwhile, relatively is expected in the next two years thus increasing demand for flexible LNG supplies, mainly from the United States. The energy watchdog has estimated that U.S. LNG exports will average 12.0 billion cubic feet per day in the current year and increase to 13.