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Natural gas industry in the United States - Statistics & facts

Advances in horizontal drilling and hydraulic fracturing have made the United States the largest natural gas industry in the world. As more sophisticated extraction technologies have allowed for shale gas to be culled, the United States has grown to become the world’s leading producer of natural gas. Formed over millions of years from decomposing plant and animal matter, natural gas is one of the most widely used fossil fuels today. It consists primarily of methane and other hydrocarbons.

New exploration ventures have seen proved natural gas reserves in the U.S. increase to 12.9 trillion cubic meters by 2019. ExxonMobil has the greatest proved reserves of any U.S. E&P company. However, as the coronavirus pandemic has severely impacted Henry Hub prices, many oil and gas companies have been brought to the brink of bankruptcy. Those specializing in shale are particularly hard hit, with Chesapeake Energy, a shale pioneer, the most prominent victim. Uncertainty now looms over how profitable it will be to bring some of these reserves to the surface. In 2019, natural gas production in the U.S. had reached a peaked of 920.9 billion cubic meters.

Due to an increase in production output and added LNG terminal capacity, U.S. exports of natural gas have tripled in the past five years. By 2019, a record 4.66 trillion cubic feet of natural gas had been exported via pipelines and in liquefied form via tankers. This made the U.S. the third largest seller of natural gas in the world, following Russia and Qatar. Recovering from the years of oversupply in 2015 and 2016, oil and gas companies' value added had grown again to reach 236.81 billion U.S. dollars by 2018.

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Natural gas industry in the U.S.

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