Shale Revolution changes US energy landscape
The United States has been exporting Liquefied Natural
Gas (LNG) since February 2016. The first large scale US LNG left from the Sabine Pass terminal last year. There have since been more than 130 tankers carrying LNG delivering gas throughout the world, 42% of which went to the western hemisphere, 29% to Asia, 15% to the Middle East and North Africa and 13% to Europe. The Department of Energy had issued an authorization to export more than 220 billion cubic meters of LNG to non-FTA countries [who do not have free trade agreements]. That amount of gas is now available. The Federal Energy Regulatory Commission has approved the authorization of nine facilities in the United States to export that gas. So there is lots of supply that has been approved for export and our gas production is continuing to grow. It is estimated that by 2035 the US will be producing nearly 1 trillion cubic meters of natural gas per year. That is a figure forecast by the EIA [US Energy Information Administration]. The natural gas sector is really booming in the United States and what has been described as the Shale
Gas Revolution has changed the energy landscape in the United States. It is now making a big contribution to oil and gas production all around the world. One shipment of LNG from the United States was purchased for Turkey. As they bring on board additional FSRUs, which are able to receive and deliver LNG, Turkey is looking at additional shipments. We certainly anticipate that those shipments will continue to increase and that opportunities for LNG suppliers from the US will grow in this market.