ADI presented at two sessions some of its research and insights based on its consulting work at the 2018 World Gas Conference in Washington, DC last week. The second focused on natural gas-fired power generation.
The supply of natural gas is growing globally at 1.6% annually. United States, the world's largest gas producer, will also increase production more than any other country over the next five years, accounting for over 40% of the global growth. Natural gas supply in the U.S. will continue to be abundant and cheap, with a significant share of the U.S. natural gas resource base being produced at prices below $4 per Mcf. This is driven by declining well costs and a rising share of price-inelastic associated gas.
Natural gas use for power generation is growing in the U.S. and has been a key contributor to the reduction of carbon dioxide in the country as it has been displacing coal. Gas-fired power is cheap and growing but is not evident from new gas turbine unit sales which have been flat for the past decade globally and in several regions.
In the presentation we have assessed and forecasted U.S natural gas supply by play and demand by application. We have also assessed gas turbine and steam turbine unit sales, capital costs, and installed capacity by region.
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