Conoco CEO Sees North America Energy Self-Reliant In 2025

Date : 06/13/2012 @ 8:00AM
Source : Dow Jones News
Stock : Conocophillips (COP)
Quote : 43.7  0.05 (0.11%) @ 4:01PM

Conoco CEO Sees North America Energy Self-Reliant In 2025

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VIENNA--North America is expected to become self-sufficient in energy by 2025 ConocoPhillips (COP) Chief Executive Ryan Lance said Wednesday.

The U.S. has been experiencing a boom in natural gas extracted from shale over the past two years, and Lance said the country already has no need to import any natural gas.

The shale revolution has pushed U.S. gas prices to the lowest in a decade, opening up the possibility of shipping gas to Asia where prices are just short of record highs but demand is still robust.

"North America will become an exporter of [liquefied natural gas] in the near future," Lance said at an OPEC seminar in Vienna.

Write to Hassan Hafidh at hassan.hafidh@dowjones.com

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