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Landon Derentz Energy Policy Advisor Bureau of Energy Resources U.S. Department of State

Shale Gas and Tight Oil Production in the United States. Landon Derentz Energy Policy Advisor Bureau of Energy Resources U.S. Department of State. U.S. Dry Shale Gas Production.

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Landon Derentz Energy Policy Advisor Bureau of Energy Resources U.S. Department of State

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  1. Shale Gas and Tight Oil Production in the United States • Landon Derentz • Energy Policy Advisor • Bureau of Energy Resources • U.S. Department of State

  2. U.S. Dry Shale Gas Production Sources: EIA Monthly Review, June 2015. Official shale gas estimates, but not survey data. State abbreviations indicate primary state(s).

  3. U.S. Tight Oil Production (select plays) Sources: EIA Monthly Review, June 2015. Official tight oil estimates, but not survey data. State abbreviations indicate primary state(s).

  4. U.S. Natural Gas Supply by Source History Projections 2015 Dry gas billion cubic meters (bcm) Consumption Source: EIA, AE0 2015

  5. Lower U.S. LNG Imports Leaves More Gas Supply for International Markets Evolution of U.S. Net LNG Imports: History and Forecasts • Sources: Energy Information Administration, Annual Energy Outlooks 2005 and 2015 Net Imports Net Exports

  6. DOE Authorizations for Lower-48 State LNG Exports Aug. 2014 Updated procedures bcf/d 8.61 Corpus Christi Dominion Cove Point • Between Aug. 2012 and Sept. 2014, DOE: • Conducted two-part economic study • Issued 7 conditional authorizations • Issued two environmental reports Freeport Cumulative Volume of Export Authorizations Cameron Sabine Pass Nov. 2014 Sept. 2014 Aug. 2012 May 2015 Source: DOE

  7. Federal Energy Regulatory Commission Review Onshore LNG Export Projects Under FERC Review, as of June 18, 2015 Source: EIA, AE0 2015 http://www.ferc.gov/industries/gas/indus-act/lng/lng-export-proposed.pdf 7

  8. U.S. Liquefaction Capacity 40% in the U.S. Pending Applications Under Construction Over 65 bcmalready being constructed Alaska Existing Conditional 171bcm Final Final Final Source: GIIGNL, IGU, PIRA, DOE, FERC

  9. U.S. Liquefaction – Notional Timeline Cameron T3 & Corpus Christi T2 Freeport T3 Cameron T2, Corpus Christi T1 & Freeport T1-2 Cameron T1, Cove Point & Sabine Pass T 3-4 Top Exporters in 2014 (bcm): Qatar - 96 (32%) Malaysia - 31 (10%) Australia - 29 (10%) Nigeria - 24 (8%) Indonesia - 22 (7%) Sabine Pass T 1-2 Sabine Pass First LNG Source: PIRA, GIIGNL, ENR Analysis

  10. Projected U.S. natural gas exports reflect the spread between domestic natural gas prices and world energy prices • U.S. natural gas imports and exports • trillion cubic feet History Projections 2013 2013 2013 Lower 48 states LNG exports Alaska LNG exports Pipeline exports to Mexico Pipeline imports from Canada Pipeline exports to Canada High Oil and Gas Resource Reference Low Oil Price LNG imports Source: EIA, Annual Energy Outlook 2015

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