"Fracking: Igniting a Natural Gas Production Boom in the U.S."
The U.S. has regained its position as the world's leading natural gas producer, thanks to the fracking boom that began in 2005. In 2022, U.S. natural gas production reached a new all-time high of 94.7 billion cubic feet per day (BCF/d), surpassing all Middle East production combined. The growth in U.S. consumption has been driven by the shift from coal-fired power plants to natural gas and the backup for renewable energy. Additionally, U.S. natural gas exports, both via pipeline and as liquefied natural gas (LNG), have surged over the past decade, with the U.S. on track to become the largest LNG exporter within three years. However, the U.S. may face challenges in maintaining its lead in natural gas production due to its relatively smaller proved reserves compared to the Middle East, Russia, and Iran.
