Natural gas output from the Marcellus and Utica shales in the US Northeast likely outpaced regional demand for the first time this spring, according to a research report from UK-based investment bank Barclays Capital. Natural gas production in the region north of Virginia and east of Ohio crossed the 10 billion cubic feet per day mark in April, compared to average April consumption for Northeast states of 10 Bcf/d in 2009-11. Production is expected to drop below regional demand this winter, but as output growth in the Northeast continues to defy expectations, the report predicts that the region could become a year-long net exporter of natural gas as early as 2015.
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