As US crude oil export volumes have increased to an average of 2.8 million barrels per day (b/d) in the first seven months of 2019, the number of destinations (which includes countries, territories, autonomous regions, and other administrative regions) that receive US exports has also increased, according to EIA.
According to EIA’s Weekly Natural Gas Storage report the working natural gas inventories in the Lower 48 states reached 3,519 billion cubic feet (Bcf) for the week ending October 11, 2019, exceeding the previous five-year average since September 22, 2017.
The US Federal Gulf of Mexico accomplished an annual record reaching the US cruse oil production of 1.8 million barrels per day in 2018, and EIA now expects that the oil production in GOM will set new production records for 2019 and 2020.
EIA launched its International Energy Outlook 2019 (IEO2019) forecasting that the global energy consumption will increase by about 50% from 2018 to 2050, coming from regions where the consumption of energy is driven by strong economic growth, particularly in non-OECD Asia.
The North Dakota data provides information into well completion practices, as the time that an oil well has been drilled but is uncompleted (meaning that it has not started production yet) doesn’t affect much the initial production level.
According to EIA, the liquefied natural gas exports from the US rose over the week ending September 4, as 12 LNG tankers had departed from US facilities, all of them carrying capacity of 43 billion cubic feet of LNG, increased by four cargoes in comparison to the previous week.
As EIA informs the Bab el-Mandeb Strait is a strategic route for oil and natural gas shipments. The strait is a sea route chokepoint between the Horn of Africa and the Middle East, linking the Red Sea to the Gulf of Aden and Arabian Sea.
Natural gas deliveries to US facilities producing LNG for export achieved a monthly record in July 2019, averaging 6.0 billion cubic feet per day (Bcf/d). This is 7% of the total US dry natural gas production, according to data from OPIS PointLogic Energy.
US exports of LNG have been growing continuously and reached a new peak of 4.7 billion cubic feet per day in May 2019, according to the latest data published by the US Department of Energy’s Office of Fossil Energy. In 2019, the US became the world’s third-largest LNG exporter, averaging 4.2 Bcf/d in the first five months of the year.
As EIA informs, the Suez Canal and the SUMED Pipeline are strategic routes for Persian Gulf crude oil, petroleum products, and LNG shipments to Europe and North America. Located in Egypt, the Suez Canal connects the Red Sea with the Mediterranean Sea, and is considered as a key chokepoint due to the large volumes of energy commodities that flow through it.
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