The American shale gas revolution will enjoy a second wind as rapid growth in domestic production sees the US join the world’s club of top gas exporters, a leading energy authority has predicted.
According to The Guardian, fracking has already opened up US shale oil and gas deposits, leading to a fall in gas prices and a drop in greenhouse gas emissions as power generation switches from coal to gas, as well as reducing America’s historical reliance on fossil fuel imports.
But an increase in US gas production over the next five years will cause another revolution as the country begins liquefying and shipping gas to Asia, Europe and the Middle East, the International Energy Agency said.
In a report published on Thursday, the IEA forecast the US would generate almost 40% of the rise in global gas output between 2016 and 2022.
Come 2022, the US will produce more than a fifth of the world’s gas, putting it on the same level as top gas exporters such as Russia and Norway, the agency predicted. As an exporter of liquefied natural gas (LNG), it would become second biggest in five years, behind Australia but above Gulf state Qatar.