Meanwhile, EIA reported earlier this month that U.S. natural gas production in 2018 hit a new record high. The production grew by 10.0 billion cubic feet per day during 2018, an 11 percent increase from 2017. The growth was the largest annual increase in production on record, reaching a record high for the second consecutive year.

As natural gas production increased, the volume of natural gas exports, both through pipelines and as liquefied natural gas (LNG), increased for the fourth consecutive year in 2018, reaching 9.9 billion cubic feet per day.

In 2018, total natural gas exports grew by 14 percent, and LNG exports grew by 53 percent. Both pipeline and LNG exports reached record monthly highs in December 2018 of 7.7 billion cubic feet per day and 4.0 billion cubic feet per day, respectively.

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