The United States is the world’s top producer of natural gas (NGU24) by far, thanks to the shale revolution of the past 20 years.
Demand for gas globally is strong, and the importance of LNG (liquefied natural gas) is growing particularly fast. In its 2024 energy outlook, BP PLC (BP) said that LNG demand had risen at eight times the rate of natural gas consumption in the past five years. The soaring demand was driven by the fast-growing Asian economies, and disruptions to Russian LNG pipeline deliveries.
