US natgas output, demand to hit record highs
EIA projected dry gas production will rise from 103.2 billion cubic feet per day (bcfd) in 2024 to 104.9 bcfd in 2025 and 106.4 bcfd in 2026. That compares with a record 103.6 bcfd in 2023.
The agency also projected domestic gas consumption would rise from a record 90.5 bcfd in 2024 to 91.3 bcfd in 2025 before easing back to 90.7 bcfd in 2026.
The May projections for 2025 were lower than EIA's 105.3 bcfd supply forecast in April, but higher than the agency's 91.2 bcfd demand forecast in April.
The agency forecast average US liquefied natural gas (LNG) exports would reach 14.6 bcfd in 2025 and 16.0 bcfd in 2026, up from a record 11.9 bcfd in 2024.
As renewable sources of power displace coal-fired plants, the agency projected US coal production would fall from 512.1 million short tons in 2024, the lowest since 1964, to 506.4 million tons in 2025, still the lowest since 1964, and 474.9 million tons in 2026, the lowest since 1962. EIA projected carbon dioxide (CO2) emissions from fossil fuels would rise from a four-year low of 4.775 billion metric tons in 2024 to 4.827 billion metric tons in 2025 as oil, coal and gas use increases, before easing to 4.742 billion metric tons in 2026 as oil, coal and gas use declines.
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