US will become world number 2 in liquid Natural gas exports and China will be number one importer

Total U.S. natural gas consumption averaged 74.2 billion cubic feet per day (Bcf/d) in 2017 and is forecast to increase by 7% to 79.7 Bcf/d in 2018 before slightly decreasing to 79.6 Bcf/d in 2019.

EIA estimates that dry natural gas production will average 81.3 Bcf/d in 2018, an 11% increase from 2017 levels. In 2019, production is expected to rise by another 4%, averaging 84.5 Bcf/d for the year.

The United States was a net exporter of natural gas in the first quarter of 2018, with net exports averaging 0.5 Bcf/d. Rising LNG exports and pipeline exports have contributed to a shift from the United States being a net importer of natural gas as recently as the first quarter of 2017.

US will develop liquid natural gas up to about 14% of total natural gas, about 6% in 2020

The US is building up liquified natural gas export facilities.

Global LNG exports meanwhile will rise 30 per cent by 2023 and the United States will become the world’s second-largest supplier.

China will be world largest importer of natural gas in 2019

China will increase natural gas imports by 60% between 2017 and 2023 to 376 billion cubic meters [37 billion cubic feet per day or 13.7 trillion cubic feet per year] (International Energy Agency Forecast).

China’s liquefied natural gas imports will up to 93 bcm by 2023 from 51 bcm in 2017.

China will expand gas storage capacity to meet increased seasonal needs during winters. China has about 10 billion cubic metres of storage space, or about 4% of its annual demand. Germany and Italy have capacity amounting to 25 per cent and 33% of demand.

Global gas demand will grow at an average rate of 1.6% a year, reaching just over 4,100 billion cubic meters (bcm) in 2023, up from 3,740 bcm in 2017.

Europe Imports and Russia

Gazprom supplies to Europe plus Turkey, but not the countries of the former Soviet Union) hit an all-time daily record of 713 million cubic meters on March 2.

Gazprom is building the 31.5 Bcm/year TurkStream pipeline to Turkey and the 55 Bcm/year Nord Stream 2 pipeline to Germany.