Exploration & Production

US ratcheting up exports of crude oil and NGLs

US NGL and crude oil exports may have an even bigger impact on global markets than US LNG, Interfax Chief Energy Analyst Peter Stewart told an LPG conference in London this week US NGL and crude oil exports may have an even bigger impact on global markets than US LNG, Interfax Chief Energy Analyst Peter Stewart told an LPG conference in London this week.
By Peter Stewart 2 March 2017 0 24372
Cameron LNG plant. The US will become a leading exporter of both gas and liquids. (Sempra LNG)

Since the first shipments from Cheniere’s Sabine Pass liquefaction plant last year, the impact of the rising flow of US LNG exports has been closely tracked by the market. The increase in exports of crude oil and NGLs produced from shale has drawn less attention, but it may have even more important consequences.

US crude exports exceeded 1 million barrels per day (MMb/d) in the first few weeks of 2017 as the country’s production recovered to 9 MMb/d – having dropped by more...