US Natural Gas Net Imports Fall to Lowest Level Since 1987

The US Energy Information Administration reported that US net imports of natural gas decreased by 9 percent in 2014, totaling 1,171 billion cubic feet and reaching the lowest level since 1987.

As quoted in the market news:

As U.S. dry natural gas production has reached record highs, lower domestic prices have helped to displace natural gas imports.  Imports by pipeline from Canada account for nearly 98 percent of all U.S. natural gas imports, and were the main driver of the decrease in total imports. Net imports from Canada represented 7 percent of total U.S. natural gas consumption in 2014, down from 11 percent in 2009.

U.S. natural gas exports also decreased in 2014, but at a slower rate than the decrease in imports, and were still 9 percent above the previous five-year average. Natural gas exports to Mexico, which account for nearly 50 percent of U.S. natural gas exports, increased 12 percent in 2014.

Net imports of liquefied natural gas (LNG) in 2014 totaled 43 Bcf, down 54 percent from the level in 2013 and continuing a five-year decline. LNG exports increased from 2013 levels, but not enough to offset a nearly 40 percent decrease in total LNG imports in 2014.

Click here to read the full US Energy Information Administration report.