4 Interesting Facts about the Influence of LNG on the US Oil & Gas Industry
From the past few years, the US has evolved as a net exporter of Liquefied Natural Gas (LNG) due to the steady growth in natural gas production and declining pipeline natural gas imports. Until 1995, the US exported considerably small amounts of LNG, slowly picked up the production and peaked in 2007 when its production neared 771 billion cubic feet (Bcf). The steady rise in LNG can reap great profits for investors in the oil and gas industry. Continuing on the subject, we present oil and gas investment updates in the form of 4 interesting facts about the influence of LNG on the US oil and gas industry. Read on. 1. The US LNG Exports May Potentially Double in 2019 The US Energy Information Administration (EIA) currently predicts a potential doubling of US LNG exports in 2019. Several environmental regulations and concerns strengthen the production and export of LNG as opposed to alternative power sources such as coal. Many Asian and European nations are heavily reliant on natural gas