The EIA predicts that US natural gas production will continue to rise until 2050.
According to the US Energy Information Administration, US natural gas production is expected to increase through 2050 due to rising demand from US natural gas exports, particularly for liquefied natural gas.
The EIA forecasts a nearly 25% increase in annual US natural gas production through 2050, based on its Annual Energy Outlook 2022 reference case. The Appalachia Basin in the East and the Mississippi-Louisiana salt basins in the Gulf Coast will account for the majority of the growth, according to the EIA. However, associated gas, which is produced in oil formations, will account for more than half of the growth.
The Wolfcamp formation of the Permian Basin in the Southwest US has seen the most significant increase in associated gas production, along with the Haynesville formation, which are both close to LNG export terminals on the US Gulf Coast. According to the EIA, the proximity of these LNG facilities has encouraged production growth in these areas.
Natural gas exports are expected to increase through the early 2030s before leveling off, according to the agency. Natural gas exports are expected to remain relatively flat after 2033 until 2050.
LNG capacity expansions, combined with increased demand for natural gas abroad, result in an increase in LNG export forecasts to 5.86 trillion cubic feet by 2033, up 65 % from current levels, according to the EIA.
Markets News : Russia has imposed a ban on the export of high-tech, automotive, agricultural, and electrical equipment until the end of 2022.
According to the Russian government’s announcement. The export bans will last until the end of 2022 and will apply to technology, telecommunications, medical, auto, agricultural, and electrical equipment. At the very least, there is no mention of the big one, which is related to oil and gas.
The export suspension list included 200 items in total, including covered railway cars, containers, turbines, and other goods. Yeah, it’s not exactly ground-breaking, but we’ll have to wait and see how much of an impact it has, even if it appears to be minor at first glance.
Other Markets :
Equities slipped early on before a brief and light bounce and then extending losses after the meeting between Russia and Ukraine foreign ministers failed to produce anything substantial.
European indices were down a little over 1% initially but have deepened the declines with the DAX down over 3% and CAC 40 down by 2.8% on the day currently. S&P 500 futures also fell by 1% with Nasdaq futures down 1.4%.
The euro remains a bit of a laggard as it backs off the highs yesterday . EUR/USD fell from 1.1060 to 1.1026 before bouncing back a little to 1.1040-50 levels at the moment
Source: XglobalMarkets
