U.S. consumption and production of natural gas decreased while exports grew in 2020

U.S. natural gas production and consumption decreased in 2020 because of mild winter weather and the COVID-19 pandemic’s effect on demand, according to our recently released Natural Gas Annual. Less natural gas was consumed in the United States, which pushed prices down; the annual Henry Hub spot price for 2020 averaged $2.03 per million British thermal units (MMBtu), the lowest annual price since 1997. The low prices contributed to record-high levels of natural gas exports and consumption in the electric power sector in 2020.
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SynEnergy Partners LLC continues to monitor COVID-19 around the clock under the guidance of our Global Crisis and Regional Incident Management teams, and we have responded as a company with compassion for those who may be affected as well as an abundance of caution to limit the spread of the virus.

We are also taking measures to ensure business continuity remains unimpacted during this time.