New Gas Market Fundamentals: The Prospects for Liquefied Natural Gas
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An increasingly volatile market price for U.S. natural gas, the inadequacy of domestic natural gas reserves, and the continuing development of new natural gas-based electric generation capacity have created a heightened interest in imported liquefied natural gas (LNG), and plans are underway to add more LNG to the U.S. fuel mix. Current projections of the U.S. Department of Energy show the LNG share of the U.S. gas market increasing from a current level of 0.75% to 6.1% by 2025, implying a major penetration of LNG into the U.S. gas market. What are the long-term prospects for a significant LNG market? And what impact will such a market have on Texas market conditions?