The United States exported 18.5 Bcf/d of liquefied natural gas to 34 countries in March 2026, the highest monthly rate since the EIA began tracking LNG exports in 1997. Net natural gas exports (exports minus imports) reached 652 Bcf for the month, or 21.0 Bcf/d, also an all-time high. The US exported 3.7 times more natural gas than it imported.
The growth is being driven by the startup of three new LNG export facilities: Plaquemines LNG, Corpus Christi Stage 3, and Golden Pass LNG. The EIA expects LNG exports to grow by an additional 2.1 Bcf/d in 2026 as these facilities reach full capacity.
The surge in LNG demand is a key structural driver for Henry Hub prices. The EIA's Short-Term Energy Outlook states that demand for natural gas — driven mainly by LNG exports — is growing faster than supply, which should reduce natural gas storage over time and lift prices.
Venture Global signed another five-year LNG supply deal with German utility EnBW as the company works to market volumes from its rapidly expanding portfolio. Qatar also successfully moved limited LNG cargoes through the Strait of Hormuz for the first time since February, though broader Gulf export flows remain constrained.
Record LNG exports are structurally bullish for Henry Hub over the medium term. The US gas market is no longer isolated — it is increasingly linked to global gas prices through LNG exports. As more Gulf Coast liquefaction capacity comes online, domestic gas buyers are competing with international buyers for supply. This dynamic supports the view that Henry Hub prices will trend higher over the next 2-3 years. Buyers should extend hedge durations to capture current sub-$4 prices before the next leg up.