The United States is having a record-setting year for LNG exports, breaking its own export records for four- consecutive months.
Preliminary data from LSEG show that the United States exported a whopping 10.1 million metric tons of LNG in October. That’s approximately 485 billion cubic feet (bcf) and more than 100 bcf higher than in October 2024 (376.2 bcf).
Since 2016 when the United States kicked off its journey to become the world’s top LNG exporter – which happened in 2023 – activists have claimed that increased exports will drive up domestic prices. Yet, despite breaking records year-over-year, that hasn’t happened.
Natural gas demand continues to grow
In the International Energy Agency’s recently released World Energy Outlook, the agency found under both its re-instated Current Policies Scenario (CPS) and Stated Policies Scenario (STEPS) that oil and natural gas demand will continue to grow through 2025. In fact, global natural gas demand “rises to 5,600 billion cubic meters by 2050” in the CPS. As IEA explains:
“[N]atural gas demand continues to grow into the 2030s, as a wave of new liquefied natural gas (LNG) exports brings downward pressure on prices.”
But the United States is poised to meet that demand. As Reuters reports:
“The [Energy Information Administration] projected dry gas production will climb from 103.2 billion cubic feet per day (bcfd) in 2024 to 107.1 bcfd in 2025 and 107.4 bcfd in 2026. That compares with a record 103.6 bcfd in 2023.”
Not only is U.S. natural gas production forecast to continue breaking records, but LNG exports will also keep growing as well. As Reuters explains:
“The agency forecast average U.S. liquefied natural gas exports would rise to 14.7 bcfd in 2025 and 16.3 bcfd in 2026, up from a record 11.9 bcfd in 2024.”
Bottom Line: The United States Export Growth, Price Stability, and Energy Leadership Go Hand in Hand
The U.S. experience over the past decade proves that expanding LNG exports does not drive domestic prices higher, it drives innovation, efficiency, and economic growth. Through technological advancement, market flexibility, and strategic infrastructure, the United States has built an energy system that benefits both domestic consumers and international partners.
With LNG exports poised to double and natural gas production continuing at record levels, the path forward is clear: supporting growth in U.S. natural gas exports is not just good energy policy, it’s good economic policy.
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