Energy
Liquefied Natural Gas Set to Become United States' 2nd Largest Net Export Industry within Five Years, S&P Global Energy Study Finds
Growing exports of U.S. liquefied natural gas (LNG) are now on track to support 550,000 jobs annually and contribute $1.4 trillion to U.S. gross domestic product through 2040—exceeding previous expectations—while having a negligible impact on domestic gas prices, according to a comprehensive new study by S&P Global Energy.
About this update from S&p Global Inc.
Growth of U.S. LNG exports now expected to support 555,000 jobs annually and add $1.4 trillion to GDP through 2040 while domestic natural gas prices will remain among lowest in the world WASHINGTON, July 16, 2026 /PRNewswire/ -- Growing exports of U.S. liquefied natural gas (LNG) are now on track to support 550,000 jobs annually and contribute $1.4 trillion to U.S. gross domestic product through 2040—exceeding previous expectations—while having a negligible impact on domestic gas prices, according to a comprehensive new study by S&P Global Energy. The new study projects that, under current conditions, U.S. feedgas demand for LNG exports will double to 36 billion cubic feet per day (bcf/d) in the next five years, 25% higher than previous base case projections. The United States, already the world's leading supplier of LNG, is expected to surpass a one-third share of the global market during this time, almost certainly making LNG exports the second largest net export industry in the United States, second only to U.S. civilian aircraft and parts. The study, Price and Economic Impacts of an Accelerating Export Industry updates the findings of a December 2024 study to account for a surge in LNG investment that has occurred since the lifting of the U.S. LNG 'pause' in January 2025, with seven new projects taking final investment decision and several more expected in the next 6-12 months. S&P Global Energy now estimates that total investment in the LNG supply chain will exceed $1 trillion through 2040. In addition to the increased jobs and GDP gains, the new study expects future LNG export activity to generate more than $2.9 trillion in total revenues for U.S. businesses, $206 billion in federal and state tax revenues and nearly $630 billion in labor income. The economic impacts extend far beyond gas-producing states, with 42% of jobs and 33% of GDP contributions occurring in non-gas-producing areas. "The profound growth of U.S. LNG is exceeding all expectations," said Daniel Yergin, Vice Chairman, S&P Global and study chair. "What has become a $44 billion annual industry in just the last decade is now poised to be the country's second largest net export within five years. "The economic gains in terms of jobs, GDP and labor income are on track to surpass all prior expectations, while the abundance of U.S. gas resources means that domestic prices remain among the lowest in the world. The economic benefits and low domestic prices, along with significant contributions to global energy security and the influence that comes from being the world's largest supplier add up to the benefit of the United States."