The Energy Information Administration’s latest energy outlook released Tuesday is bullish on natural gas exports increasing in the next two years due to increased production from shale wells.
The U.S. “transitions from being a modest net importer of natural gas to a net exporter by 2017,” the Annual Energy Outlook for 2015 says.
The growth in natural gas exports will continue after 2017, with net exports in 2040 ranging from 3 trillion cubic feet to 13.1 trillion cubic feet.
The numbers are based on two scenarios, one that uses lower oil prices, and one that uses higher prices.
Either way, the projections indicate that exports are possible given a secure supply of natural gas being produced from shale using hydraulic fracturing, or fracking.
The new outlook also shows oil production from shale replacing petroleum imports.
The American Petroleum Institute, which represents oil and gas producers, welcomed the government findings.
“The latest federal forecast shows that U.S. production can remain strong, despite the downturn in prices, but an all-of-the-above energy policy will be critical to our competitive edge in the decades to come,” said the institute’s vice president for policy, Kyle Isakower.
“We need more energy — not less – especially as natural gas plays a rapidly growing role in America’s energy mix and domestic oil production continues to replace imports,” Isakower said.
