U.S. Supplies of Natural Gas Remain as Strong as Ever
Washington, D.C. – Future natural gas supplies in the United States are at their highest reported level on record.
Today, the Potential Gas Committee (PGC) released their year-end assessment of the nation’s estimated natural gas resource base, “Potential Supply of Natural Gas in the United States,” at an event hosted by the American Gas Association. Experts from the PGC presented on the current state of technically recoverable reserves in the United States, providing valuable information on a region-by-region basis.
Future gas supply totals 3,978 trillion cubic feet in 2022, an increase of 3.6 percent from the comparable year-end estimate in 2020. Technically recoverable resources of natural gas, those in the ground but not yet recovered, total 3,352 trillion cubic feet (Tcf) in 2022, according to the PGC assessment. An independent assessment of proved reserve volumes of 625 Tcf brings total future supply to the highest level assessed in the 59-year history of the PGC.
The PGC biennial assessment is the most comprehensive report of the potential for future natural gas supplies in the U.S. The PGC is made up of approximately 80 knowledgeable and highly experienced volunteer members who work in the natural gas exploration, production, transportation, and distribution industries and the technical services and consulting sectors.
The Potential Gas Committee assesses the natural gas resource potential for each of 90 geologic provinces comprising six geographic areas of the Lower 48 States and Alaska, 56 of which are onshore and 34 offshore. The assessments capture the status of a dynamic system of drilling and appraisal where potential natural gas resources transition into proved reserves and eventually into flowing natural gas production.
The PGC’s assessment of Traditional resources for year-end 2020 to year-end 2022 reported a decrease of 15 Tcf, while Future Gas Supply, which includes additions or subtractions to proved reserves, increased by 137 Tcf. Adding current future supply (3,978 Tcf) to cumulative production (1,554 Tcf) changes the Ultimate Recoverable Resource to 5,532 Tcf, an increase of 213 Tcf (4.0 percent) from year-end 2020.
“These evaluations are critically important to help ensure that policymakers, regulators and other key stakeholders understand the potential of natural gas supplies in the United States. Future gas supplies continue to increase as the energy industry innovates, improves processes, optimizes resources, invests in efficiency, and reduces emissions,” said Richard Meyer, AGA Vice President of Energy Markets, Analysis, and Standards. “However, to fully realize the potential of this natural gas supply, new infrastructure will be required to connect production zones to demand centers.”
The Executive Summary of the report can be accessed here.