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European companies search for new suppliers as US natural gas production declines

As several countries, including those in Europe, are seeking alternative gas sources to cut dependence on Russian gas supplies, natural gas production in the United States is declining.

As pipelines in the Permian Basin fill up quickly, it will contribute 19 percent to America's gas supply in 2021, making it the country's second-largest source of natural gas. Due to this, production growth might be slower in 2023 in the basin, which is located in Texas and New Mexico.

Mountain Valley Pipeline, a $6.2 billion project that would move gas between West Virginia and Virginia, continues to be engulfed in litigation.

The proposed Atlantic Coast Pipeline, which would have crossed under the Appalachian Trail through West Virginia, Virginia, and North Carolina, was canceled in 2020 after it became clear that costs would surge to $8 billion from the earlier maximum estimate of $6.5 billion. Developers announced in March 2022 that the project would resume and should be completed by summer 2023.

2 May 2022


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