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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.

With plenty of supply and unclear demand due to macroeconomic headwinds, US natural gas futures dropped to $3.0/MMBtu, the lowest level in five months, and followed the slide in gas prices in key hubs across Europe and Asia. Domestic gas output in the Lower 48 states reached a record high of 106.6 billion cubic feet per day so far in April, according to new figures. As northern states move away from the winter season, this coincided with warmer-than-normal temperatures that are predicted to last until early May, which will lower demand for gas-intensive heating. Meanwhile, India reduced its LNG use due to decreased coal costs, and China's LNG imports fell 20% from the previous month due to macroeconomic headwinds brought on by the ongoing trade war with the US.

Throughout the 2024–2025 heating season, the demand for natural gas increased globally, with North America and Europe being the main drivers of this development. Throughout the 2024–2025 heating season, steady and secure gas supplies were guaranteed by underground storage facilities and reserve mechanisms, which gave the gas system much-needed flexibility. Tighter market conditions and increased macroeconomic uncertainty are expected to reduce the growth of worldwide gas consumption in 2025 compared to the previous year.