BAKU, Azerbaijan, October 17. Anticipated US natural gas production is projected to increase by over 70 bcm, or approximately 7 percent, by 2026, compared to 2022, Trend reports.
As the International Energy Agency (IEA) expects, the country is expecting production boost primarily due to the upsurge in LNG exports on the global market and increased piped gas deliveries to Mexico.
This additional supply is primarily met through shale gas production, led by the Permian Basin, the agency noted. Conversely, traditional gas production is expected to decline over the forecast period. By 2026, shale gas is predicted to constitute nearly 80 percent of the total US gas production.
For 2023, US gas production is poised to grow by 35 bcm, marking a 5-percent increase, the IEA forecasts. This growth stems from the continued expansion of LNG exports, strengthened piped gas deliveries to Mexico, and higher gas utilization in the power sector.
Over the medium term, US natural gas production growth is projected to decelerate, shifting from an average annual growth rate of 4 percent between 2018 and 2022 to 1.5 percent between 2022 and 2026, the report added. This reduced growth aligns with the declining domestic gas consumption in the US and is primarily driven by the rapidly expanding LNG exports and the ongoing growth of piped gas deliveries to Mexico, the IEA noted.
