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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.

as a 25-month high of $4.5 in the previous session, US natural gas futures dropped below $4.3/MMBtu as EIA data revealed a lower-than-expected storage draw. For the week ending February 28, US utilities pulled 80 billion cubic feet (bcf) of gas, which was less than the 96 bcf that the market had predicted. This resulted in 1,760 bcf of total inventories. Even with February's record output of 104.7 bcfd, storage levels are still 11.3% below the five-year average and 24.9% below the previous year. With the help of additional capacity at Venture Global's Plaquemines plant, LNG shipments also increased to a record 15.6 bcfd last month. However, the demand for heating is anticipated to decline due to projections of better weather until March 18.

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.