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Global Natural Gas Markets In A Period Of Transition

Just a decade ago, the oil and gas industry was preparing for a structurally transformative change in which the United States would become a major importer of liquefied natural gas (LNG) supplies from the Middle East, Africa, Russia, and other distant locations. This hailed a dramatic shift in how disparate regional markets would become increasingly linked through trade, with the US becoming a major consumer of global natural gas. However, recent upstream developments in North America have shaken the Magic 8-Ball that is the global energy market, and everyone is scrambling for a view of what will come next. The US is now considered a possible exporter of LNG, and perhaps even crude oil, which was an unthinkable notion just a decade ago.

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