How will the start-up timing of the new U.S. LNG export facilities affect our forecast?

U.S. exports of liquefied natural gas (LNG) represent the largest source of natural gas demand growth in our March 2025 Short-Term Energy Outlook (STEO), with LNG gross exports expected to increase by 19% to 14.2 billion cubic feet per day (Bcf/d) in 2025 and by 15% to 16.4 Bcf/d in 2026. The start-up timing of two new LNG export facilities—Plaquemines LNG Phase 2 (consisting of 18 midscale trains) and Golden Pass LNG—could significantly affect our forecast because these facilities represent 19% of incremental U.S. LNG export capacity in 2025–26.