US energy report forecasts falling natural gas output in first half of 2024 before 2025 record surge led by LNG
The US government’s short-term energy report for May forecasts falling first-half 2024 dry natural gas production while liquefied natural gas exports are set to rise in 2025, along with the benchmark Henry Hub gas price.
US exporting most LNG globally and cargoes to surge over next year as pipeline natural gas exports also rise
The United States has been exporting more liquefied natural gas than any other country and LNG shipments were expected to surge through the next 12 months while deliveries were also increasing of pipeline natural gas to both Mexico and Canada.
US natural gas production remains at high levels led by Permian Basin associated gas despite lower prices
US dry natural gas production has remained at relatively high levels throughout 2023 despite a decline in US natural gas prices with growth driven by the Permian Basin where most of the natural gas is produced from associated gas produced from oil wells.
US expects Henry Hub natural gas price to rise with summer gas-fired power needs and LNG exports
The US Government expects the benchmark Henry Hub natural gas price to increase along with gas-fired power demand and rising feed-gas supplies for liquefied natural gas exports as dry gas production stalls.
