Goldman Sachs forecasts rising natural gas prices due to cold January and record LNG demand

Goldman Sachs reports that a cold January and record demand for liquefied natural gas (LNG) are likely to increase natural gas prices. A major Arctic blast is expected to hit the U.S. around January 20, with temperatures dropping significantly. Forecasts indicate that heating demand could rise by 6.1 billion cubic feet per day due to the cold. As a result, Goldman has raised its price forecast for summer 2025 natural gas from $2.90 to $3.30 per million British thermal units. U.S. LNG exports have reached a record average of 14.5 billion cubic feet per day. This increase, combined with colder weather, is expected to tighten gas supplies and impact storage levels, potentially leading to higher prices in 2026.