CALGARY, Alberta (July 7, 2026) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the leading energy data analytics platform, has released its latest Fundamental Edge report, highlighting near-term pressure in U.S. natural gas markets as power demand and gas-fired generation underperform expectations.
The report points to LNG as the primary offset to softer domestic consumption. LNG exports increased 3.6 Bcf/d versus 1Q25, absorbing nearly 80% of the 4.6 Bcf/d production increase over the same period. EIR expects commissioning at Golden Pass and continued ramp-up at Corpus Christi Stage 3 to push LNG flows above 20 Bcf/d by year-end, while longer-term demand growth becomes increasingly concentrated in LNG and emerging behind-the-meter data center load.
“Near-term gas prices remain pressured because power demand is not keeping pace with supply growth, but LNG continues to provide the main structural demand outlet,” said Al Salazar, report author and director at EIR.
Key takeaways:
- EIR maintains its view for Henry Hub near ~$3.00/MMBtu through summer 2026.
- Total domestic gas consumption declined 2.5 Bcf/d in 1Q26 versus 1Q25, led by residential, commercial and industrial weakness.
- Gas-fired power generation increased ~0.8 Bcf/d in 1Q26 but underperformed expectations implied by weather.
- If power-sector weakness persists into winter, EIR says incremental storage could build by ~200 Bcf, pushing its price outlook down by roughly $1.00/MMBtu.
- LNG remains the key offset, with exports up 3.6 Bcf/d versus 1Q25 and flows expected to move above 20 Bcf/d by year-end.
EIR’s analysis pulls from a variety of products including Enverus ONE.
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About Enverus Intelligence® Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.
