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According to the US Energy Information Administration (EIA), the US natural gas production reached new highs in 2018, increasing by 11%. Gas production measured as marketed production and dry natural gas production have also reached new highs. As expected, gas exports also increased by 14% to 102 bcm, with LNG exports surging by 53%. The United States continued to be a net gas exporter in 2018, as in 2017 when the country exported more gas than it imported for the first time in nearly 60 years.
Russian state-owned gas group Gazprom produced nearly 498 bcm (+5.7%) of natural gas in 2018. The third gas production facility at Bovanenkovskoye, the main field in the Yamal Peninsula with gas reserves totalling 4,900 bcm, went onstrem in 2018 and reached its design production capacity of 115 bcm (production capacity of 317 mcm/d in winter).
The Kuwaiti government, through state-owned oil compangy Kuwait Petroleum Corporation (KPC), has outlined plans to boost the country's gas production capacity from the current 1.9 bcf/d (19.6 bcm/year) to 3.5 bcf/d (around 36 bcm/year) by 2031-2032. North Kuwait’s Jurassic gas fields should enable to reach 3 bcf/d (nearly 31 bcm/year), when they become fully operational, i.e. not before 2023-2024. In addition, gas imports should soar when the 22 Mt/year Al-Zour LNG import terminal project is commissioned in late 2021 or early 2022.
The Saudi Arabian government estimates that it is too early to modify the OPEC+ (OPEC and some non-OPEC allies such as Russia) crude oil production cuts policy at the next group’s meeting in April 2019; further output policy changes are not expected before June 2019. Saudi Arabia predicts that the global demand will continue to grow led by China.