US natural gas production growth is waning at the same time many countries are looking for new suppliers to help break their dependence on Russian gas after Moscow’s invasion of Ukraine. The United States is already the world’s largest producer of natural gas.
But the two mainstays of production – the Appalachian region and West Texas – are seeing growth slow, with companies blaming lack of adequate pipeline infrastructure, despite prices near 14-year highs.
Since Moscow invaded Ukraine on February 24, US gas prices have soared about 50% as European countries look to the United States, the world’s second biggest exporter, to sell more liquefied natural gas to wean Europe off Russian fuel. —AFP