LNG exports are going way up

[dan_s]

Nat Gas Exports Could Add $73B To U.S. Economy. The Oil Price. Higher natural gas exports from the U.S. in the years to 2040 could add between US$50 billion and US$73 billion to the economy and create 220,000-452,000 new jobs, ICF said in a press release from the American Petroleum Institute. The report is a revision of an earlier one compiled in 2013, and the revision suggests the situation in U.S. natural gas has changed for the better. First, there is a greater resource base thanks to tech advances in production. Today, ICF says, the Lower 48 and Canada can produce 1,798 trillion cu ft of gas at US$5 per mmBtu in 2016 dollars. This compares with 1,250 trillion cu ft for the same price four years ago. As regards the global natural gas market, the study suggests that the market for U.S. LNG exports has grown substantially since 2013 and now the country can export between 8 and 24 billion daily versus earlier projections of 4-16 billion cu ft daily.