US Natural Gas Consumption Reaches 13.5 Tcf in 2024 with Significant Capacity Expansion Planned
U.S. natural gas consumption for electricity reached 13.5 trillion cubic feet in 2024, a 4% increase from 2023. Projections show growth to 91.4 Bcf/d in 2025, driven by demand in states like Texas and Florida. Over 252 GW of gas-fired capacity is planned, with costs exceeding $416 billion. Key projects include Duke Energy's $3.2 billion plant in South Carolina and NRG Energy's four new plants targeting AI data centers. However, turbine shortages may delay developments, impacting over 45 GW of planned capacity.
Theia Market Signal Identification - AI Assisted
In 2024, U.S. natural gas consumption for electricity hit 13.5 trillion cubic feet, up 4% from 2023, with expectations of reaching 91.4 Bcf/d in 2025. Significant capacity additions are planned, with over 252 GW of gas-fired projects in development, potentially expanding the U.S. gas fleet by 50% at a cost exceeding $416 billion.
Major initiatives include Duke Energy's $3.2 billion plant in South Carolina and NRG Energy's projects targeting AI data centers. Despite this growth, turbine shortages pose risks for timely implementation, with backlogs extending to 2029-2030.
Comments