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Natural gas has many uses. It is the main source for heating and electricity generation and the main raw material for chemical products such as fertilizers and plastics. Because it has a lower carbon content than other fossil fuels, natural gas advocates have promoted its use as a bridge fuel in the energy transition. This demand growth is also reflected in the steady increase in global natural gas production, which increased by nearly 60% from the late 1990s to 2020. Global natural gas consumption is strongly reflected production levels and by 2020 up to 3.82 trillion cubic meters.

Following the EIA's announcement of a higher-than-expected inventory build, US natural gas futures fell to $4/MMBtu, the lowest level in three weeks. For the week ending March 14, US utilities stored 9 billion cubic feet of gas, more than the 3 billion cubic feet that were predicted. This reduces the storage deficit and represents the first stock rise since November 2024. Gas stocks are currently 10% below the five-year average and 26.8% below the previous year. Meanwhile, increased activities at Venture Global's Plaquemines LNG project propelled LNG shipments to a record 15.7 bcfd in March. Through early April, temperatures are predicted to remain close to seasonal averages. On the supply side, natural gas production in the Lower 48 states rose to 105.7 bcfd in March, exceeding February’s record of 105.1 bcfd.

Proven reserves of natural gas worldwide: 6.64 trillion cubic feet The country with the largest proven reserves: Russia. Global natural gas production: 4.04 trillion cubic meters. Global natural gas consumption: 4.04 trillion cubic meters. The United States is the world's largest natural gas producer, having extracted nearly 950 billion cubic meters in 2020. The United States is also the state's top natural gas exporter, transporting gas by pipeline to other countries. neighboring Canada and Mexico.