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Page added on September 2, 2014
US Now World’s Leading Natural Gas Producer
According to the BP 2014 statistical world energy review, the U.S. has achieved world-leading natural gas production, by reaching a new all-time high of 328 billion cubic feet per day (BCPD). World usage of natural gas is about 24% of all primary energy consumed, behind oil’s 33% and coal’s 30%. Over the past five years, U.S. natural gas production has grown over 20%.
This is obviously due to the capturing of natural gas as a by-product to the massive shale expansion, as the shale “fracking” revolution seems to continue its unprecedented growth. No other global energy-producing nation has come close to matching U.S. production gains, while leap-frogging Russia in 2009, along with Qatar and Iran, previous global natural gas leadership aspirants.
In 2013, U.S. production accelerated in earnest by achieving 20.5% of the global natural gas supply. Russia is the lagging runnerup. Iran, in third place has trailed far behind, while Canada has attained fifth place position by closing in on Qatar.
While the U.S. and Iran consumed approximately as much as they produced, Russia produced 50% more than its internal consumption. While Russia had become Europe’s number one gas supplier, it also recently signed a $40 billion, 30-year deal, that will tap into Russia’s yet-to-be developed Siberian oil/gas reserves, buried deep under that region’s tundra.
While the U.S. natural gas production leadership position is undisputed, America trails in fifth place in proven natural gas reserves. This may be remedied if, and when, the U.S. is able to export the 90% of “shale potential,” that awaits states’ and federal approval. The latter is mostly located in government-owned areas that cover almost two-thirds of the vast acreage of the fifty states and U.S. territories.
Iran holds the top spot for proved reserves of 18.2% of the world total, with Russia just behind with 16.8% of global proved reserves. These are followed by Qatar, and
Turkmenistan, with the U.S. trailing behind. At 2013 production rates, the U.S. has 13.6 years of proved reserves, while Russia’s potential reserves are generally unknown, due to the as yet undetermined amounts that will become available as the Russo/Chinese 30-year agreement begins its long-term development with Siberia.
America’s greatest problem in becoming an active global “player” depends on how fast and voluminously the U.S. can complete its export terminals and convert to liquid natural gas for global export shipments.
14 Comments on "US Now World’s Leading Natural Gas Producer"
dissident on Tue, 2nd Sep 2014 7:10 pm
Wank, wank, wank.
Those tight gas wells do not have the same production curves that conventional wells do. Before planning for the glorious, shining future perhaps these blowhard chest thumpers should do some math.
Plantagenet on Tue, 2nd Sep 2014 7:15 pm
I wonder why this article says that the US has only 13 years of reserves, when Obama said in 2012 that the US had a 100-year-long supply of NG.
Either this article is completely wrong, or Obama is wrong.
coffeeguyzz on Tue, 2nd Sep 2014 8:43 pm
Both.
synapsid on Tue, 2nd Sep 2014 8:53 pm
The US and Russia have been swapping the lead for decades. Anyone know how long?
toolpush on Tue, 2nd Sep 2014 9:29 pm
Plantagenet,
One is reserves, the other is resources.
Plantagenet on Tue, 2nd Sep 2014 10:01 pm
Obama didn’t use the terms reserves or resources. In his 2012 state of the union speech Obama said “We have a supply of natural gas that can last America nearly 100 years”
That doesn’t square with the claim in this article that at 2013 production rate, our reserves will be depleted in only 13 years.
And as far as reserves vs. resources, the EIA uses the words proved reserves and proved resources interchangeably.
Nony on Tue, 2nd Sep 2014 10:12 pm
The Marcellus is kicking ass.
Makati1 on Tue, 2nd Sep 2014 11:14 pm
The US natural gas production bubble is about to burst. I’m no expert, but it seems to me that they are practically selling it for below cost. How long can that last?
toolpush on Wed, 3rd Sep 2014 1:43 am
Plantagenet,
Of course Obama didn’t use the term Reserves or resources. He is a politician, and speaks so he can’t be pinned down. I also believe you have been around here long enough to have seen the conversation about reserves and resources. So I will leave it at that.
Ralph on Wed, 3rd Sep 2014 5:36 am
World’s largest producer and still a net importer. That’s really all you need to know.
westexas on Wed, 3rd Sep 2014 6:31 am
Their US natural gas production number is more than four times too high.
rockman on Wed, 3rd Sep 2014 8:47 am
Just a clarification with some pesky facts. The title could also be: “US Now World’s Leading Natural Gas Consumer”. Which also explains why the US is a net NG and LNG IMPORTER. We are fortunate to have so much NG resources. It would be even nicer if we had enough production to satisfy our current requirements.
Nony on Wed, 3rd Sep 2014 2:51 pm
We do. It’s just the Canadians dumping supply.
Nony on Fri, 5th Sep 2014 1:07 am
It is possible to be a net importer and still be the “largest producer”, if you use more than you make. (Same situation likely to occur with C&C soon.)
We are both the largest producer and the largest consumer.