11202017Mon
Last updateMon, 20 Nov 2017 7pm

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End-User News

U.S. Driving Global Gas Market Transformation

The global natural gas market is undergoing a major transformation driven by new supplies coming from the U.S. to meet growing demand in developing economies and industry surpasses the power sector as the largest source of gas demand growth, according to the International Energy Agency (IEA).

The U.S. – the world’s largest gas consumer and producer – will account for 40% of the world’s extra gas production to 2022 thanks to the remarkable growth in its domestic shale industry. By 2022, US production will be 890 bcm, or more than a fifth of global gas output. Production from the Marcellus, one of the world’s largest fields, will increase by 45% between 2016 and 2022, even at current low price levels, as producers increase efficiency and produce more gas with fewer rigs. 

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