Navigant Global Energy recently released its “North American Natural Gas Market Outlook Year End 2014” in which it provides a long-term outlook of supply, demand, imports, exports, and prices.
Navigant expects U.S. natural gas production to increase from 72 Bcf per day in 2015 to almost 110 Bcf per day in 2035. The firm says that the increased production will be on the back of ongoing growth of shale gas in the Northeast, particularly from the Marcellus shale formation.
However, given the supply side growth, Navigant sees a new chapter in the gas industry with LNG exports and a global market for natural gas. Specifically, the firm forecasts more than 9 Bcf per day of natural gas exports from North America by 2021.
Likewise, Navigant concludes that fuel-switching from coal to natural gas will continue to increase and will be driven by price competition and government policy. In total, the firm foresees an incremental growth in demand of more than 24 Bcf per day for power generation by 2035.
For the a full summary of the report, please click here.
To contact the reporter for this story, please email firstname.lastname@example.org.