About a third of U.S. gas production is associated gas - produced from oil wells. Just four shale basins in the United States are currently producing some 36 billion cubic feet of associated gas daily.
About a third of U.S. gas production is associated gas - produced from oil wells.
Now, U.S. benchmark gas is trading around $2 per mmBtu and likely to remain at this level for the observable future. Because of associated gas. some 36 billion cubic feet of associated gas daily. Those are the Permian, the Eagle Ford, the Niobrara, and the Bakken. And the reason they are producing so much is that oil production is also on the rise. Because of higher prices.
But even before these regulators set their sights on natural gas, domestic demand was flattish and unlikely to grow by any substantial amounts unless energy transition plans fail spectacularly.This means that gas prices in the U.S. won't be going anywhere higher anytime soon. Until they do, as demand for LNG from overseas ramps up.
Rising costs and intensifying competition are making life difficult for LNG developers and many projects currently in the pipeline may never see the light of day. This is what the Financial Times this month, citing industry executives as saying it had become more difficult to secure the long-term offtake commitments necessary for any LNG project.
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