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follow zzyzzx 2017 Jul 13, 10:33am
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Global gas demand is set to grow 1.6% every year for the next five years and the U.S. is on pace to become the biggest exporter of liquefied natural gas by 2022, the International Energy Agency reported.
The U.S. is already the biggest natural gas producer, but it's challenging Qatar and Australia to become the leader in converting that natural gas into LNG. The IEA suspects the U.S. will provide more than one-fifth of global gas output by 2022.
Three major LNG terminals are being built on the Texas coast. The completion of those terminals will double the number of LNG ports currently in use in the U.S.
Demand for LNG will steadily grow in the next five years. China is expected to lead 40% of the demand growth.