Natural Gas Is American Strength

News Release February 28, 2022

Washington, D.C. – Natural gas prices in Europe closed at $30.75 per MMbtu today, up 6% since Friday, 12% since the war in Ukraine began and climbed over $43 at one point. By contrast, the price in the U.S. at the Henry Hub is near $4.50 today. As the price of natural gas in Europe remains high, American Gas Association (AGA) President and CEO Karen Harbert said:

 “America derives great strength from our abundant natural gas supply and vast delivery infrastructure. Russia’s aggression against its neighbors has disrupted international energy markets, but natural gas prices for America’s homeowners and business remain stable. Our abundance means that while we are satisfying domestic demand at affordable prices, we can continue to export natural gas and extend America’s strength throughout the world. Our exports are helping other nations reduce their environmental impact while loosening the grip of unstable leaders with reckless political agendas. Our nation should continue to invest in natural gas infrastructure and the economic stability and national security it provides for all Americans.”

On Background:

  • The United States has 3,368 trillion cubic feet of natural gas technically recoverable resources.
  • 187 million Americans use natural gas in their homes and one new customer signs up for service every minute.
  • Europe has been shutting down natural gas production, but growth in renewables has not kept pace to take its place.

The American Gas Association, founded in 1918, represents more than 200 local energy companies that deliver clean natural gas throughout the United States. There are more than 76 million residential, commercial and industrial natural gas customers in the U.S., of which 95 percent — more than 73 million customers — receive their gas from AGA members. Today, natural gas meets more than thirty percent of the United States' energy needs.