US natural gas production and consumption are expected to reach their highest levels in 2032.

According to the Energy Information Administration (EIA) in its Annual Energy Outlook (AEO) released on Tuesday, U.S. natural gas production and demand will both peak in 2032. The EIA forecasts that by 2032, dry gas production will hit 119.0 billion cubic feet per day (bcfd) and demand will reach 92.4 bcfd, compared to current record levels of 103.6 bcfd for production in 2023 and 90.5 bcfd for demand in 2024. Looking ahead, production is expected to decline to 112.9 bcfd in 2040 and rise slightly to 115.2 bcfd by 2050, while demand is anticipated to drop to 80.7 bcfd in 2040 before increasing to 82.6 bcfd in 2050. The EIA also projected U.S. liquefied natural gas (LNG) exports to increase from a record 11.9 bcfd in 2024 to 15.2 bcfd in 2025, 21.5 bcfd in 2030, and 26.8 bcfd in 2040, before dipping to 26.7 bcfd in 2050. Furthermore, gas sales are predicted to rise to peaks of 13.3 bcfd for residential users in 2028, 9.9 bcfd for commercial users in 2050, and 27.2 bcfd for industrial users in 2050, but will decline in most years to 23.0 bcfd for power generation in 2050. Current all-time highs stand at 14.3 bcfd for residential consumers in 1996, 9.6 bcfd for commercial customers in 2019, 23.8 bcfd for industrial customers in 1973, and 36.9 bcfd for power generation in 2024.