In recent months the U.S. has ramped up natural gas production to meet both domestic needs and a surge in liquefied natural gas (LNG) exports. Dry‑gas output is projected to rise to about 107 billion cubic feet per day (bcfd) in 2025, up from roughly 103 bcfd in 2023. Simultaneously, consumption, driven in part by export demand, could hit around 115 bcfd in 2025, climbing to about 117 bcfd in 2026.
The export side has become particularly notable. The U.S. recently became the first country to export over 10 million metric tonnes of LNG in a single month—October saw approximately 10.1 mmt. Europe accounted for nearly 70 per cent of those exports, as the continent builds supply ahead of the winter season. These export volumes reflect the U.S. increasing its global role and suggest that incremental production is no longer absorbed solely by domestic demand.
From a pricing perspective, natural gas futures in the U.S. climbed to levels last seen in March 2025, trading above around US$4.30 per MMBtu and touching technical resistance near US$4.45. Storage remains comfortable, stockpiles were reported at about 3,915 Bcf in late October, roughly 4.3% above the five‑year average.
Diversified Energy Company plc (LON:DEC) is an independent energy company engaged in the production, marketing, transportation and retirement of primarily natural gas and natural gas liquids related to its U.S. onshore upstream and midstream assets.
