The U.S. is the largest producer of natural gas in the world and the fourth largest exporter, having exported over 67 billion cubic meters of pipeline gas and 28 billion cubic meters of liquefied natural gas. Yet, the country’s natural gas distribution revenues are projected to fall from 110 billion U.S. dollars in 2010 to 75 billion U.S. dollars by 2022, as the prices have been beset by oversupply. In fact, benchmark prices have more than halved between 2014-2019. Additionally, the industrial price for natural gas in the U.S. is amongst the cheapest in the world, at 13.9 U.S. dollars per megawatt hour. To give this some perspective, it is two-fold less than that in the UK and five-fold lower as compared to the leading nation Switzerland.
The outbreak of the corona virus has caused the prices to slump further. The Henry Hub natural gas prices fell to a two-decade low at 1.62 U.S. dollars per million British thermal units on April 3, 2020. In addition, the total oil and gas rig count has hit a record low of 339 in the week to May 15, according to data published by Baker Hughes Co.
Natural gas distribution revenue in the U.S. 2010-2022
(in billion U.S. dollars)
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Statista, & US Census Bureau. (August 1, 2018). Natural gas distribution revenue in the U.S. 2010-2022 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 05, 2024, from https://www.statista.com/forecasts/310775/natural-gas-distribution-revenue-in-the-us
Statista, und US Census Bureau. "Natural gas distribution revenue in the U.S. 2010-2022 (in billion U.S. dollars)." Chart. August 1, 2018. Statista. Accessed December 05, 2024. https://www.statista.com/forecasts/310775/natural-gas-distribution-revenue-in-the-us
Statista, US Census Bureau. (2018). Natural gas distribution revenue in the U.S. 2010-2022 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 05, 2024. https://www.statista.com/forecasts/310775/natural-gas-distribution-revenue-in-the-us
Statista, and US Census Bureau. "Natural Gas Distribution Revenue in The U.S. 2010-2022 (in Billion U.S. Dollars)." Statista, Statista Inc., 1 Aug 2018, https://www.statista.com/forecasts/310775/natural-gas-distribution-revenue-in-the-us
Statista & US Census Bureau, Natural gas distribution revenue in the U.S. 2010-2022 (in billion U.S. dollars) Statista, https://www.statista.com/forecasts/310775/natural-gas-distribution-revenue-in-the-us (last visited December 05, 2024)
Natural gas distribution revenue in the U.S. 2010-2022 (in billion U.S. dollars) [Graph], Statista, & US Census Bureau, August 1, 2018. [Online]. Available: https://www.statista.com/forecasts/310775/natural-gas-distribution-revenue-in-the-us