There’s plenty of potential for “significant” oil and natural gas infrastructure development through 2025 as the U.S. economy recovers from COVID-19 and exports increase, according to ICF Resources Inc.
ICF completed two scenarios of North American oil and gas markets through The first modeled infrastructure development prior to COVID-19. The second attempted to fully capture the impacts of the pandemic and extended delays in development.
Although analysts found the pandemic has slowed the pace of infrastructure projects, they expect that to change as oil and natural gas projects rebound. Domestic natural gas use is expected to rise to an average of roughly 87.5 Bcf/d in 2025, which is about 3.6% above the 2019 level.
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