Could Natural Gas Prices Reach Nearly $5 in 2026? It’s a Good Bet on Rising LNG Exports, Domestic Consumption

NGI’s Patrick Rau, senior vice president of research and analysis, checks all the boxes in sharing his expertise about the outlook for U.S. natural gas in a sitdown with NGI’s Carolyn Davis, managing editor of news. 

Where are domestic natural gas prices headed into 2026? Pat says it’s not one thing or another, as rising demand is ahead as more LNG export capacity comes online, and as industrial and residential/commercial sector consumption climbs. 

E&Ps are likely waiting for bullish natural gas price signals to spur activity in the second half of 2025, but they will be accelerating their activity, according to Pat. 

The odds of adding natural gas infrastructure, both midstream and by utilities, also is discussed as hyperscalers compete to build a plethora of data centers.