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Internationally, organizations such as the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) serve vital roles in coordinating policies among member nations, which can affect global natural gas markets. The establishment of these organizations helps stabilize prices and ensures that the benefits of natural gas are shared across nations.
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Moreover, the abundance of natural gas in various regions has made it a more economically viable energy source. Advances in extraction technologies, particularly hydraulic fracturing and horizontal drilling, have significantly increased the supply of natural gas, especially in the United States. This surge in production has not only lowered prices but also decreased reliance on foreign energy sources, contributing to energy independence and enhancing national security.
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