natural gas growth drives progress

Around the world, natural gas is a part of everyday life for many people, who use it for cooking, doing laundry and other household needs. It’s also used to produce electricity—and it’s necessary for things like manufacturing, fertilizer production and hydrogen generation.

This abundant, reliable energy source—often in the form of liquefied natural gas (LNG)—also supports economic growth.

For many consumers, natural gas is one of the more affordable energy sources available.

And that’s not all, said Brian Essner, Chevron’s general manager of LNG origination.

“If you think of the global energy system, it’s a key component,” Essner said. “When there’s a failure or a change in how energy is provided to consumers, natural gas has the scale and is flexible enough to fill that gap.”

Demand for energy is rising, with U.S. electricity consumption projected to reach all-time highs in 2025 and 2026. Globally, electricity demand is expected to grow through 2026.

Rising global energy demand is expected to be driven by economic growth, industrialization, and the increasing needs of artificial intelligence (AI). Natural gas is a good source of energy to power data centers needed for AI because it’s scalable and affordable.

To meet this demand, Chevron is currently expanding its global gas business.

By 2040, U.S. households could save a total of $100 billion—or roughly $655 per household—thanks to the rising use of natural gas in electricity generation. That’s according to the American Petroleum Institute, which reasons that lower natural gas prices will “lead to more natural gas consumption by power generators and lower wholesale and retail electricity prices.”

Chevron’s reputation as a reliable operator—coupled with its strategically placed LNG hubs worldwide—has helped give its LNG business a leading edge, said Essner.

For 75 years, Chevron has partnered closely with Japan, particularly on LNG supply.

With the Chevron-operated Gorgon and Wheatstone projects in Australia, plus the company’s stake in the Northwest Shelf Project in the country, Chevron is among Japan’s largest LNG suppliers.

“This relationship with Japan helped build the investment support that enabled our large-scale projects like Gorgon and Wheatstone,” said Makiko Matsukizono, Chevron’s general manager for Japan in its LNG origination organization. “This is a testament to our commitment to powering progress and the global impact of our LNG business.”

Chevron also has significant natural gas holdings spanning the Asia Pacific, the Eastern Mediterranean, and West Africa. In the U.S., its holdings range from the Permian and DJ basins to Chevron’s expanding presence along the U.S. Gulf Coast. These holdings position Chevron to support the world’s evolving energy mix and energy security needs.

Chevron is contracted to export 7 million metric tons of LNG annually from the U.S. Gulf Coast, beginning in 2026. That’s enough to power a U.S. city of more than 3 million people for approximately one year.

In fact, Chevron is engaged in every aspect of the natural gas business, spanning exploration, production, liquefaction, shipping, pipelines, marketing and trading, and power generation.

“No single company or country can solve the energy trilemma—affordability, reliability and lowering carbon intensity—alone,” said Freeman Shaheen, president of Chevron’s global gas business. “We are working across the value chain with governments, customers, industry peers and technology partners to scale solutions that work.”