5 Reasons Why Texas Is a Major Player in the Global Gas Market
Wednesday, June 27, 2018
Texans for Natural Gas | June 27, 2018
As the top natural gas producing state, Texas accounted for roughly 24 percent of total U.S. marketed natural gas production last year. Combined with favorable shipping access, seven of the nation’s 24 proposed or approved LNG export facilities, and some of the country’s largest natural gas reserves, the Lone Star State is rapidly becoming a major player in the global gas market.
In fact, it already is. Here’s why.
1) Three of the Five Largest Continuous Gas Resources in the U.S.
The U.S. Geological Survey (USGS) estimates that three of the five biggest undiscovered, technically recoverable continuous gas resources in the United States are located in Texas and the Gulf Coast. These three resources total an estimated 423 trillion cubic feet of natural gas.
2) Over One-Fourth of the Nation’s LNG Export Infrastructure
Texas is home to seven of the 24 LNG export facilities that are planned or currently under construction in the United States, thanks to its abundant natural gas reserves and access to shipping along the Gulf Coast. The construction and operation of these facilities are estimated to provide more than a $145 billion economic impact, tens of thousands of jobs, and enable Texas natural gas to reach trading partners around the world.
3) Shale Gas Production Grew 280 Percent Since 2007
Shale development has been a boon for Texas. According to the U.S. Energy Information Administration (EIA), the state’s annual natural gas withdrawals from shale gas increased over 280 percent between 2007 and 2016.
4) Total Gas Production Soaring
Texas has long been a dominant producer of natural gas, including shale and conventional resources. Between 2007 and 2017, Texas’s total marketed natural gas production grew by over 700 billion cubic feet – an 11.5 percent increase.
5) Top Natural Gas Producing State
As the top U.S. natural gas producing state, Texas produces roughly 24 percent of all U.S. natural gas or over 7 trillion cubic feet of natural gas in 2016. If Texas were a country, it would be the third largest natural gas producing country in the world.