Liquefied natural gas has turned into a highly sought-after commodity this year. And given the ongoing energy crisis in Europe, it will be no different in 2023, estimates the US Energy Information Agency (EIA).
What will be the production of natural gas in the USA?
Natural gas production in the United States will slightly exceed 98 billion cubic feet per day this year. Next year, it will even approach 100 billion, the US Energy Information Agency estimated. Within two years, U.S. production of the commodity will increase by about 1.7 percent. While this is a very small increase, exports of natural gas in liquid form will increase significantly, the agency estimates.
LNG to find major customers in Europe
While last year the U.S. exported an average of 9.76 billion cubic feet per day, this year LNG exports from the United States will rise to about 10.85 billion, and next year they will rise to 12.33 billion cubic feet per day. This represents a year-on-year increase of more than 13 percent, and from 2021 on-year LNG exports from the US will grow by more than a quarter. The main market will be the countries of the European Union, which are facing an energy crisis as a result of the Russian Federation’s military incursion into Ukraine.
