21 December 2022 | Other

Natural gas production growth in the U.S. and Canada could slow down in 2023

Canada and the U.S. reportedly have every chance of setting new natural gas production records in 2023. However, the task could be complicated by declining demand levels, pipeline bottlenecks and a lack of new liquefied natural gas (LNG) exports.

After Russia partially stopped gas supplies to Europe, the demand for gas has soared worldwide. Thus, the U.S. and Canada are expected to become major LNG exporters over the next few years, with prices only going up. For example, in 2022, the combined production of the two countries is 116 billion cubic feet per day. These are record numbers. 

Production growth in 2023 is projected to be slower compared to previous years. Large production fields in both Canada and the U.S. do not have the pipelines needed to transport gas to key markets. There is a Canadian LNG terminal with sufficient export capacity, however, it will not be completed until 2 years from now.

Company MarketCheese
Period: 13.06.2026 Expectation: 1000 pips
Go long on USDCAD with 1.38800 target in play
Today at 10:48 AM 19
Period: 20.05.2026 Expectation: 100 pips
Natural gas prices are correcting within upward channel ahead of another rally
Today at 09:39 AM 15
Period: 20.05.2026 Expectation: 1000 pips
Investing in NVIDIA stock with $230 in sight
Today at 09:06 AM 11
Period: 20.01.2028 Expectation: 500 pips
Hot US inflation and geopolitical jitters weigh heavily on EURUSD
Today at 06:26 AM 16
Period: 12.06.2026 Expectation: 4700 pips
Invest in Bitcoin up to $86,000
Yesterday at 10:09 AM 35
Period: 31.05.2026 Expectation: 1900 pips
Buying GBPUSD on low US inflation
Yesterday at 09:54 AM 35
Go to forecasts