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.
Companies in the United States produced more uranium concentrate in 2024 than in any year since 2018 after a sustained period of higher uranium prices spurred production, according to our recently published Domestic Uranium Production Report—Quarterly. The increase largely came from two in-situ recovery facilities, one in Texas and one in Wyoming, and the resumption of uranium production at White Mesa Mill in Utah, the only operational uranium mill in the United States. Production in the fourth quarter of 2024 alone was higher than the total annual production for each of the years in 2019–23.
Canada's propane exports have steadily increased over the last decade, reaching record highs in 2024 as new marine export terminals streamlined the flow of propane from western Canada to export destinations, particularly to Asia. U.S. propane imports from Canada have stayed relatively consistent since Canada began waterborne exports in 2019.
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.
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.
The business activity index remained in positive territory, the Federal Reserve Bank of Dallas said.
Oil prices tumbled over 6% as Trump's aggressive tariffs and a surprise OPEC+ supply boost rocked markets.
Dmitriev on Thursday confirmed he was in Washington for meetings with representatives of the U.S. administration.
The group led by Saudi Arabia and Russia will add 411,000 barrels a day to the market next month, according to a statement posted on the OPEC website.
'It means that environmental groups can bring lawsuits against the Interior Department just because they don't agree with a certain aspect of their environmental impact statement', Ellen R. Wald, the President of Transversal Consulting, told Rigzone.
