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LNG Exports on Rise, US to become net energy exporter by 2026

The rise in export of LNG and simultaneous fall in import of petroleum products will help U.S.A to become an energy independent nation.

USA: United States has been a net energy importer since 1953, but its projected that the trend will change within a decade. Since last year there has been a decline in import of petroleum products and a steep rise in export of natural gas in the country. Moreover, the demand of natural gas is set to rise as more and more countries are adopting cleaner fuel. According to U.S Energy Information Administration, the United States total energy consumption will likely increase by 5 percent between 2016 and 2040 in the reference case, and the total energy production will increase by more than 20 (percent) in the reference case, from 2016 through 2040. This is expected due to increase in crude oil & natural gas production ensuring US to become energy independent nation.                                    

TechSci Research finds out that the rise in natural gas production by USA would boost the export of LNG across the globe. Growing focus on expansion of gas pipeline infrastructure, rising demand for natural gas from downstream sectors, declining LNG prices coupled with implementation of favorable government policies is boosting demand for LNG across the globe. Increasing focus on development of adequate support infrastructure in various developing as well as developed economies is expected to boost LNG demand in the coming years.

According to released report of TechSci Research, Global LNG Market Demand & Supply Analysis, By Region, By Country, By LNG Terminal, Competition Forecast and Opportunities, 2011-2025”, global LNG supply market is forecast to exhibit a CAGR of over 5% during 2016-2025, on account of rising demand for cleaner fuels; oversupply of LNG due to liquefaction capacity additions in Australia, US and Papua New Guinea; and declining prices of LNG over the last few years.

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