Two Decades of Progress
For more than two decades, AGA’s biweekly Natural Gas Market Indicators have provided insights and analysis on the state of American natural gas markets. With the publication of our 500th edition…
For more than two decades, AGA’s biweekly Natural Gas Market Indicators have provided insights and analysis on the state of American natural gas markets. With the publication of our 500th edition of the NGMI, it’s a great time to look back on the progress over the past twenty years. America’s natural gas sector has exceeded all expectations of growth, becoming the cornerstone of our energy system while driving down energy costs for all Americans.
Key takeaways from the special 500th NGMI include:
- From scarcity to abundance: U.S. natural gas production shattered mid-2000s forecasts, reaching over 39 Tcf in 2025 – more than double what EIA projected in 2005, driven by shale development and technology gains.
- Prices stayed far below expectations: Instead of hanging near the expected $9.30/MMBtu, Henry Hub prices averaged about $3.60/MMBtu from 2016–2025, even as demand hit a record 90+ Bcf per day.
- The U.S. flipped from importer to global exporter: Net trade swung by roughly 40 Bcf per day, with the U.S. exporting about 16 Bcf per day in 2025, making it the world’s largest LNG exporter.
To read the full 500th NGMI, click here. Stay tuned for our 501st NGMI, which will provide insights into where America’s energy experts predict our natural gas sector will go from here!