Shane Thielges | Shale Plays Media
The United States has surpassed its competitors to become the top-natural gas producing country in the world.
According to the BP 2014 Statistical World Energy Review, the U.S. now produces 328 billion cubic feet of natural gas per day, up 20% from five years ago. This makes it the most productive country in the world, supplying 20.5 percent of global natural gas. Second place now belongs to Russia, followed by Iran and then Qatar and Canada.
Hydraulic fracturing and horizontal drilling techniques have allowed the country access to vast deposits of crude oil and natural gas in shale formations deep underground. The Marcellus shale in the Northeast produces the most gas, but renewed recovery estimates have spurred interest in the nearby Utica shale and sparked talk of redevelopment of Louisiana’s Haynesville shale gas wells. The Eagle Ford shale in Texas remains a major contributor to the equation.
The U.S. consumes nearly all of the gas it produces, and is therefore ranked fifth in proven reserve stockpiles. In order to enter the global gas market, it would need to complete infrastructure expansions such as pipelines, refineries and export facilities. On the other hand, EPA emissions regulations may increase domestic natural gas demand as coal-fired power plants switch to the cleaner-burning fuel.
Earlier this year, the U.S. became the top oil-producing nation in the world. Adding gas to this achievement means it is now the top producer of fuels used for over 50% of the world’s power.
Read the story at The Desert Sun: U.S. Now World’s Leading Natural Gas Producer