Outlook for the US gas market as shale gas faces increased export demand and the New Oil Order

In recent years, most gas supply growth has been concentrated in the Marcellus and Utica shales (the Northeast), but has been constrained by insufficient pipeline capacity exiting the region. With the view that the Northeast will continue to provide the bulk of supply growth going forward, we present the possibility that pipeline constraints may prevent Northeast supply from matching demand growth through the end of the decade.