The natural gas industry is the lifeblood of many American communities, contributing millions of jobs to the economy and billions in revenue to the U.S. Treasury
Washington, D.C. — The American Gas Association (AGA) today reported that at year-end 2009 the “known reserves” of natural gas in the United States likely increased for the eleventh straight year and now approach 250 trillion cubic feet – the highest level in more than 35 years. Much of the supply optimism can be traced to the influences of unconventional resources such as natural gas from shale and tight sands.
“Natural gas supply in this county remains bullish,” said David N. Parker, AGA president and CEO. “Production is also up, underpinned by the recent development of secure, domestic natural gas resources in deepwater offshore, as well as unconventional gas in the lower 48 states. This is great news for natural gas customers. AGA believes these numbers will hold steady for the foreseeable future unless significant policy decisions restrict access to potential resources of domestic natural gas.”
BP, the largest U.S. producer of natural gas in 2009, produced less than five percent of the national total last year, indicating that the natural gas production industry remains very competitive. Other large producers and reserves holders include household names such as ExxonMobil, yet significant volumes of gas are produced by others, such as Chesapeake Energy, Devon, Anadarko and EOG Resources. In fact, thousands of other large, mid-size and small producers provided the bulk of domestic natural gas to local distribution companies last year.
“The natural gas industry is the lifeblood of many American communities, contributing millions of jobs to the economy and billions in revenue to the U.S. Treasury,” said Parker. “Our findings reinforce that this clean, efficient fuel is available in our country right now – making it an essential component for any national energy policy.”
To see AGA’s report, “Preliminary Findings Concerning 2009 Natural Gas Reserves,” please click here.