U.S market review: natural gas demand increased, but prices declined at all major hubs

This report finds that although natural gas demand increased, primarily for purposes of power generation and exports, record natural gas production caused prices to decline from 2022 levels at all major U.S. gas hubs. Prices at major natural gas hubs declined year-over-year in 2023, in contrast with the year-over-year price increases seen at most hubs in 2022. Record-high natural gas production outpacing growth in natural gas consumption was the primary driver of lower prices in 2023. Regarding natural gas infrastructure, the growth of LNG exports has supported pipeline construction in recent years in the South-Central region, which spans from Kansas […]