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LNG Tanker Canadian and U.S natural gas production is expected to hit new records in 2023, but growth may be slow due to weakened demand, pipeline bottlenecks and a lack of new liquefied natural gas (LNG) export plants. Gas demand surged worldwide after Russia cut off Europe’s primary supply, and the United States and Canada are expected to feed copious demand for exports in coming years, bolstered by high prices. The two countries produced a record combined 116 billion cubic feet per day (bcfd) in 2022. The United States has become one of Europe’s most important sources of gas, providing essential energy security after Moscow’s invasion of Ukraine. Next year’s growth could be slower than recent years. Major production fields in both countries are inhibited by a lack of pipelines to move gas to key markets, including export terminals in the U.S. Gulf. Canada is in the midst of building a large terminal to export LNG, but its completion is two years away. “It’s not production that can’t keep up, it’s just simply infrastructure constraints,” said Alan Armstrong, chief executive of Williams Cos, one of the biggest U.S. pipeline companies. “We’re going to go through a period here where […]
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