The International Energy Agency (IEA) recently announced new projections for the future of natural gas and oil production worldwide. They found that the United States will become the largest exporter of gas worldwide by the mid-2020s. As Natural Gas Intel writes,
“The resilience of U.S. unconventional natural gas and oil from shale and tight resources has cemented the country’s position as the biggest producer in the world, even at lower prices.”
The continued increase in production across the country brings to center stage the need to expand our infrastructure capacity. Without sufficient ability to move our natural resources to coastal ports and additional markets we’ll fail to capitalize on our new position as a global leader in energy exports. The increased exports are likely to spur such focus on our infrastructure, the IEA found, noting that
“The gains in output would fuel major investments in North American petrochemicals and other energy-intensive industries, IEA is forecasting. It is also reordering international trade flows and challenging incumbent suppliers and business models.”
CEPI is thrilled to see America’s new position on the international energy stage. Leading the world in gas exports comes with tremendous economic benefits, and large infrastructure demands. Expanding our pipeline infrastructure and constructing additional petrochemical plants will create thousands of jobs, boost local economies, and further cement our stop atop the global energy ladder.