Supply

 

Supply

Abundant supplies of natural gas are available right here in the United States at competitive prices to help meet the nation's growing energy needs. Our nation's abundance of domestic natural gas provides an opportunity to satisfy significant new demand at affordable prices well into the future, and offers an incredible opportunity to deliver energy value to American homes, fuel a renaissance in U.S. manufacturing and help provide a cleaner, less expensive option for vehicles, thus reducing our dependence on foreign oil.

According to the Energy Information Administration and the Potential Gas Committee, a nonprofit supported by the Colorado School of Mines, the U.S. estimated future supply of natural gas (reserves plus resources) stood at 2,718 Tcf at year end 2012 enough natural gas to meet America s diverse energy needs for more than 100 years. Estimated future supply has more than doubled for the period 1990-2012 average.

Natural gas provides nearly one-fourth of the energy consumed in the United States and this amount is expected to increase in the future. About 93 percent of the natural gas consumed in the United States is produced within U.S. borders; much of the rest about 5 Bcf per day (7 percent) -- comes from Canada, which also has a substantial natural gas supply base. Domestic natural gas production is currently supported by a diverse, elastic and abundant supply base bolstered significantly by unconventional resource plays, particularly shale gas, in many regions of the United States. 33 states are now producing or have produced natural gas.

AGA Viewpoint

The country has experienced a transformational shift in the perceived role of natural gas from an energy source sometimes seen as unreliable and scarce 10 years ago, to one that is now recognized as an essential component of a clean and secure energy portfolio. Natural gas will heat our homes, run our vehicles, generate electricity and partner with renewable energy sources for decades to come.

For the next decade, domestic natural gas supplies are expected to be sufficiently robust to meet substantial growth in demand across all sectors.

This strong natural gas supply position when coupled with a growing and accessible delivery infrastructure offers the nation a promise of affordable energy that can fuel economic recovery while also protecting our environment.
Additional Information: The Promise of Natural Gas, October 2013; Turning Principles into Action, Feb. 2012; Preliminary Findings Concerning Natural Gas Resources, April 2012; Examining U.S. Natural Gas Supply, Feb. 2012.

AGA Contact: Chris McGill, (202) 824-7132, cmcgill@aga.org

Categories: 
LNG and LNG Exports

AGA has confidence in the expanding natural gas resource base and its ability to satisfy existing and new markets at very competitive prices. We do not believe that U.S. exports of natural gas will have a material impact on core LDC customers for the foreseeable future. Further, we believe that new market demand is critical in terms of stimulating new production technologies and practices that benefit all natural gas consumers. Also, substituting natural gas for other fuels produces global environmental improvement, regardless of where it is consumed. 
NPC North American Natural Gas Resource study

In 2011, the National Petroleum Council released its much-anticipated assessment of North America's natural gas resource and how that resource can contribute to a lower carbon energy portfolio. The 18-month study was conducted at the request of Secretary of Energy Steven Chu and involved over 400 participants from across the natural gas industry, the NGO community, state regulatory agencies and all natural gas consumer segments.
Offshore Production

AGA supports the permanent removal of leasing moratoria on the OCS for natural gas.
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