Disease Treat

Know About Ulcers Blog

U.S. Atop Global Natural Gas Market

Natural gas is a fossil fuel that is used
for energy: primarily in heating, cooking, and electricity, it’s also used as fuel. It’s more environmentally friendly than
most other fossil fuels, producing far less carbon dioxide than both oil and coal. Natural gas used to be overlooked in favor
of coal and oil, but in the last few years it has had a meteoric rise because we suddenly
have the ability to extract it much more easily, using the technique known as fracking. In 2008 (though it actually started much earlier),
U.S. companies that had been combining hydraulic fracturing with horizontal drilling techniques
hit pay dirt. Between 2005 and 2015, the United States’
marketed natural gas production more than doubled! It also completely eliminated our reliance
on foreign natural gas for energy. In 2016 the U.S. passed a huge milestone… The country once again became a net exporter
of natural gas. Think about that for a moment… It’s been more than 60 years since we began
importing more natural gas than we export, but now U.S. energy companies are back with
a vengeance. The U.S. extracted more than 32.8 trillion
cubic feet of natural gas last year alone. But rather than sit on that massive resource,
we decided to make a profit and sell it to countries that are desperate for it… Those natural gas companies with an eye on
tapping global gas markets had one big problem. They were locked in a market that was only
regional, due to the fact that natural gas must be transported via pipeline. Then, something happened. Companies began investing in the infrastructure
necessary to ship LNG overseas, and quickly changed the whole dynamic of the U.S. natural
gas industry. You see, LNG stands for liquefied natural
gas. So instead of being restricted to only using
pipelines to get their gas to market, companies can now essentially liquefy their natural
gas supply, then sell it abroad to counties like Brazil, Argentina, India, and China,
where a regasification process converts the cooled liquid back into gas. But even though it’s exciting that we can
transport natural gas abroad with so much ease, we actually have our two best customers
to the north and south… That’s right, our biggest customers are
Canada and Mexico. As our nearest neighbors, you can be sure
we’ll be willing to supply their natural gas needs… at a price. The demand for natural gas is going to continue
to soar, and the U.S. will be in a prime spot for a big payday as it takes its place among
the greats.

Leave a Reply

Your email address will not be published. Required fields are marked *