Baku, Azerbaijan, Jan.6
By Leman Zeynalova – Trend:
The US is projected to become a net energy exporter by 2026 in the Reference case projections of the Energy Information Administration (EIA).
The Reference case projection assumes trend improvement in known technologies, along with a view of economic and demographic trends reflecting the current central views of leading economic forecasters and demographers.
Net exports are highest in the High Oil and Gas Resource and Technology case as favorable geology and technological developments combine to produce oil and natural gas at lower prices, EIA said in its Annual Energy Outlook 2017.
The High Oil Price case includes favorable economic conditions for producers, but consumption is lower in response to higher prices. Without substantial improvements in technology and more favorable resource availability, US energy production will decline in the 2030s.
Crude oil and petroleum products dominate US energy trade. The US is both an importer and exporter of petroleum liquids, importing mostly crude oil and exporting mostly petroleum products such as gasoline and diesel throughout the Reference case projection.
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