3 hours ago
US natural gas production is projected to reach a record high of 111.7 billion cubic feet per day (bcfd) in 2026, up from 107.6 bcfd in 2025, according to the U.S. Energy Information Administration (EIA). By 2027, domestic supply is expected to hit 115.9 bcfd.
But that's only half the story.
Over the next two years, US natural gas supply and demand will both rise to record levels, the EIA states in its Short-Term Energy Outlook.
Domestic gas consumption is projected to rise from a record 91.9 bcfd in 2025 to 111.7 bcfd in 2026 and 115.9 bcfd in 2027.
The agency said increased drilling efficiency, rising electricity demand, and expanding liquefied natural gas (LNG) export capacity continue to drive production despite selective capital spending by producers.
#bcfd #record #production #demand
But that's only half the story.
Over the next two years, US natural gas supply and demand will both rise to record levels, the EIA states in its Short-Term Energy Outlook.
Domestic gas consumption is projected to rise from a record 91.9 bcfd in 2025 to 111.7 bcfd in 2026 and 115.9 bcfd in 2027.
The agency said increased drilling efficiency, rising electricity demand, and expanding liquefied natural gas (LNG) export capacity continue to drive production despite selective capital spending by producers.
#bcfd #record #production #demand
3 months ago
The national oil company of the United Arab Emirates, ADNOC, has signed agreements with BP and TotalEnergies to let the European oil and gas supermajors take 10% each in the consortium developing one of Abu Dhabi's largest gas fields.
Both BP and TotalEnergies announced on Thursday they had signed their respective concession agreements to join the development of the Bab Gas Cap project in Abu Dhabi.
BP will now hold a 10% interest in the Bab Gas Cap concession, which is expected to produce up to 1.5 billion cubic feet per day (bcfd) of gas. The Bab Gas Cap project, the largest gas cap development of its kind globally, is made up of three reservoirs in the Bab Field – one of Abu Dhabi's largest onshore oil fields – and involves the co-production of gas and condensate.
The new concession for the Bab Gas Cap project will be operated by ADNOC Onshore, with ADNOC holding 60%, BP and TotalEnergies 10% each, China's CNPC with an 8% interest, ****** anese JODCO/INPEX with 5%, China's ZhenHua (4%), and South Korea's GS Energy with 3%.
"The Bab Gas Cap project is well in line with TotalEnergies' Upstream strategy by adding low-cost, low-emissions resources with significant potential for production growth," Patrick Pouyanné, chairman and chief executive of TotalEnergies, said in a statement today.
Both BP and TotalEnergies announced on Thursday they had signed their respective concession agreements to join the development of the Bab Gas Cap project in Abu Dhabi.
BP will now hold a 10% interest in the Bab Gas Cap concession, which is expected to produce up to 1.5 billion cubic feet per day (bcfd) of gas. The Bab Gas Cap project, the largest gas cap development of its kind globally, is made up of three reservoirs in the Bab Field – one of Abu Dhabi's largest onshore oil fields – and involves the co-production of gas and condensate.
The new concession for the Bab Gas Cap project will be operated by ADNOC Onshore, with ADNOC holding 60%, BP and TotalEnergies 10% each, China's CNPC with an 8% interest, ****** anese JODCO/INPEX with 5%, China's ZhenHua (4%), and South Korea's GS Energy with 3%.
"The Bab Gas Cap project is well in line with TotalEnergies' Upstream strategy by adding low-cost, low-emissions resources with significant potential for production growth," Patrick Pouyanné, chairman and chief executive of TotalEnergies, said in a statement today.
