The Journal Record – Thanks in large part to the unprecedented success of Oklahoma’s natural gas producers, the United States is set to become the world’s largest exporter of LNG within five years, according to a recent International Energy Agency report. Record-breaking U.S. shale production enabled the export of nearly 1.6 trillion cubic feet of natural gas in 2013. By 2018, that number had more than doubled, with LNG representing nearly one-third of total U.S. natural gas exports.
Historically, natural gas from Oklahoma was transported north to population centers in the Midwest and Northeast. The prolific gas fields in the Pennsylvania and Ohio areas, however, have created a glut of natural gas in that region. At the same time, growing liquefied natural gas exports have created new demand for natural gas along the Gulf Coast, an increasingly popular market for Oklahoma producers.
The first shipment of U.S. LNG was exported in February 2016, and it has grown by leaps and bounds since with no signs of slowing down. This is good news for Oklahoma and the American economy, as well as for developing nations around the world. As U.S. Undersecretary of Energy Mark W. Menezes recently explained: “more exports of U.S. LNG to the world means more U.S. jobs and more domestic economic growth and cleaner air here at home and around the globe.”
IEA Executive Director Fatih Birol was even more bullish, saying that “The second wave of the U.S. shale revolution is coming. It will see the United States account for 70%of the rise in global oil production and some 75% of the expansion in LNG trade over the next five years.”
Because of the hardworking men and women of our industry, Oklahoma’s natural gas production also continues to grow – nearly doubling over the past decade. Thanks to a growing worldwide demand for the clean-burning and abundant fuel and the addition of supporting infrastructure, the Sooner State is helping to meet energy demands around the globe.
Chad Warmington is president of The Petroleum Alliance of Oklahoma.