According to S&P Global Platts, the US exported 7.4 billion cubic feet of gas in November compared with its import totaling 7 billion cubic feet a day.
This marked the first time in almost 60 years the US has ever been a net exporter of the natural gas.
The record exports volume was reached less than a year after the US government lifted restrictions on crude oil exports. Experts believe the trend would persist and even strengthen as US President-elect Donald Trump plans to boost US domestic energy production.
Over the past six years, US gas exports have risen by more than 50%. According to the US Energy Department estimates, the US will export gas equal to as much as a fifth of the country’s annual consumption by 2020. Moreover, the US hopes to become the world’s third-largest producer of liquefied natural gas after Australia and Qatar by that time.
