Natural gas production in Louisiana will soon reach record heights, thanks to an outstanding resurgence of the Haynesville shale play, according to Oil & Gas Journal.
Research from Rystad Energy—and independent energy research and business intelligence company—shows that the Haynesville shale alone was able to add 1.85 billion cubic feet per day, or bcfd, of gross gas production between fourth-quarter 2016 and fourth-quarter 2017. Another 1.3 bcfd was added last year. Production needs to increase by another 700 MMbcfd to reach new all-time highs.
“We conclude that Haynesville shale’s revival, for the second year in a row, looks sustainable,” Artem Abramov, Rystad Energy partner, says. “Supported by its proximity to a new LNG export terminal, gas production will continue to grow, and achieving new all-time high gas production levels should happen within a matter of months.”
Driven by Louisiana’s Sabine Pass LNG terminal on the Gulf Coast, U.S. LNG exports increased markedly in 2018. Rystad Energy forecasts U.S. LNG production to surpass 40 million tonnes/year in 2019 as liquefaction capacity is set to double, including additions at Freeport, Cameron, Sabine Pass, Corpus Christi, and Elba Island, according to the Oil & Gas Journal. While currently sanctioned LNG plants will produce about 65 million tpy by 2022, Rystad Energy forecasts production to reach 150 million tpy by 2030. Read the full story.