Gas Surplus Seen for U.S. by 2020
Friday, December 07, 2012
The U.S. Energy Information Administration (EIA) predicts that total domestic gas production will exceed consumption by 2020.
The nation has ample gas supplies now, but they are augmented by significant imports from Canada. EIA’s prediction came in a preview of its 2013 energy outlook, which will be released next spring.
EIA said growing gas production, led by development of shale resources, would make the U.S. a net exporter of gas by the 2020, two years earlier and with greater export volumes than it had predicted in in the 2012 outlook.,
The agency said gas consumption would grow 21% by 2040, largely in the electric power and industrial sectors, which are best positioned to benefit from relatively low gas prices.
For more information: www.eia.gov