U.S. natural gas producers will boost output in 2025 following a series of production cuts this year, as rising demand from liquefied natural gas export plants is expected to increase prices that had fallen to multi-decade lows.

But rising demand for exports is expected to boost average annual gas prices in 2025 by more than 40% over 2024 levels, Reuters reported. It said the EIA projects annual average dry gas production will climb from 103.3 billion cubic feet per day (bcfd) in 2024 to 104.5 bcfd in 2025.

To meet growing export demand, several of the biggest U.S. gas producers said in their third-quarter earnings that they expect to boost output in the fourth quarter and throughout 2025.