U.S. natural gas inventories in underground storage ended winter at a three-year low
After a relatively warm start to the 2024–25 winter heating season (November–March), colder-than-normal temperatures across much of the United States in January and February resulted in increased consumption of natural gas and more withdrawals from U.S. natural gas storage than normal. By the end of March, the least amount of natural gas was held in U.S. underground storage in the Lower 48 states since 2022, with inventories 4% lower than the previous five-year average for that time of year, according to our Weekly Natural Gas Storage Report.
U.S. natural gas production remained flat in 2024
U.S. marketed natural gas production remained relatively flat in 2024, growing by less than 0.4 billion cubic feet per day (Bcf/d) compared with 2023 to average 113 Bcf/d, according to our latest Natural Gas Monthly. Production growth in the Permian was offset by declining production in the Haynesville and relatively flat production in Appalachia.
Eagle Ford natural gas production increases as crude oil production holds steady
In our April Short-Term Energy Outlook, we forecast U.S. annual natural gas production from the Eagle Ford region in southwest Texas will grow from 6.8 billion cubic feet per day (Bcf/d) in 2024 to 7.0 Bcf/d in 2026. The increase in natural gas production comes as natural gas prices rise and demand for liquefied natural gas exports grows. Oil production in the Eagle Ford, on the other hand, has hovered around 1.1 million barrels per day (b/d) since 2020, and we forecast it will remain about the same through 2026.
Angola exported more liquefied natural gas to Europe and less to Asia in 2022 and 2023
Angola exported more liquefied natural gas (LNG) to Europe and less to Asia in 2022 and 2023, according to estimates from the Statistical Review of World Energy, when Europe increased LNG imports to offset reduced natural gas imports by pipeline from Russia following the outbreak of the Russia-Ukraine war.
The United States remained the world’s largest liquefied natural gas exporter in 2024
The United States exported 11.9 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) in 2024, remaining the world's largest LNG exporter. LNG exports from Australia and Qatar—the world's two next-largest LNG exporters—have remained relatively stable over the last five years (2020–24); their exports have ranged from 10.2 Bcf/d to 10.7 Bcf/d annually, according to data from Cedigaz. Russia and Malaysia have been the fourth- and fifth-largest LNG exporters globally since 2019. In 2024, LNG exports from Russia averaged 4.4 Bcf/d, and exports from Malaysia averaged 3.7 Bcf/d.
U.S. natural gas consumption set new winter and summer monthly records in 2024
In 2024, U.S. natural gas consumption averaged a record 90.3 billion cubic feet per day (Bcf/d) and set new winter and summer monthly records in January and July, according to data in our Natural Gas Monthly. Overall, U.S. consumption last year increased 1% (0.9 Bcf/d) from 2023. In January, natural gas consumption was up 12% (12.5 Bcf/d) compared with January 2023 consumption, and in July, consumption increased by 3% (2.5 Bcf/d) compared with July 2023.
Natural Gas Weekly Update
(Thu, 27 Mar 2025) Natural gas prices, supply and demand balances, liquefied natural gas (LNG) exports, rig counts, storage levels, weather data, and other market activity or events.
The United States remained the world’s largest liquefied natural gas exporter in 2024
The United States exported 11.9 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) in 2024, remaining the world’s largest LNG exporter. LNG exports from Australia and Qatar—the world’s two next-largest LNG exporters—have remained relatively stable over the last five years (2020–24); their exports have ranged from 10.2 Bcf/d to 10.7 Bcf/d annually, according to data from Cedigaz. Russia and Malaysia have been the fourth– and fifth–largest LNG exporters globally since 2019. In 2024, LNG exports from Russia averaged 4.4 Bcf/d, and exports from Malaysia averaged 3.7 Bcf/d.
Natural gas–fired electricity generation during Texas cold snap just shy of record high
A February 19–22 cold snap increased electricity demand in Texas, and natural gas–fired electricity generation approached record highs for hourly and daily generation.
Natural gas-fired electricity generation during Texas cold snap just shy of record high
A February 19–22 cold snap increased electricity demand in Texas, and natural gas-fired electricity generation approached record highs for hourly and daily generation.