Economy August 5, 2026 11:04 AM

U.S.-Canada Energy Trade Value Climbed in 2025 as Gas Prices and Flows Rose

EIA data shows sizable increases in the dollar value of cross-border natural gas and electricity exchanges amid higher gas prices and modest volume growth

By Caleb Monroe
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The U.S. Energy Information Administration reported that the combined dollar value of natural gas and electricity trade between the United States and Canada rose in 2025. Higher natural gas prices and expanded trade volumes were the main contributors to the increase. Key figures include a 52% jump in the value of U.S. natural gas imports from Canada and a 77% rise in the value of U.S. natural gas exports to Canada.

U.S.-Canada Energy Trade Value Climbed in 2025 as Gas Prices and Flows Rose
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Key Points

  • Value of U.S. natural gas imports from Canada rose 52% in 2025 despite only a 1% increase in import volumes, indicating price-driven growth - impacts natural gas markets and energy trade valuation.
  • U.S. natural gas exports to Canada increased 4% to 2.8 billion cubic feet per day, with export value rising 77% to $2.6 billion - relevant to pipeline flows and regional supply dynamics.
  • Electricity trade between the U.S. and Canada totaled $3.2 billion in 2025, with Canadian electricity imports accounting for 67% of that value - important for utilities and regional electricity markets.

The U.S. Energy Information Administration said Wednesday that the monetary value of energy traded between the United States and Canada increased in 2025, with higher natural gas prices and greater volumes cited as the principal drivers.

According to the EIA, U.S. natural gas imports from Canada averaged 8.6 billion cubic feet per day in 2025, representing a 1% rise from the prior year. While the import volume change was modest, the dollar value of those imports climbed sharply, up 52% in 2025.

U.S. pipeline exports of natural gas to Canada also expanded. Exports averaged 2.8 billion cubic feet per day in 2025, a 4% increase from the previous year, while the value of those exports rose 77% to $2.6 billion, the agency reported.

Electricity trade between the two nations totaled $3.2 billion in 2025. Imports of electricity from Canada made up 67% of that total value, the EIA said.

The agency also flagged a piece of infrastructure that could alter future electricity flows: the New England Clean Energy Connect transmission line. The EIA noted that this line has the potential to increase U.S. electricity imports from Canada going forward.

On trade policy, the EIA reported that Canada’s energy exports to the United States were subject to a 10% tariff as of March 2025. The agency added that more recent U.S. tariff actions have exempted energy trade from those measures.


Context and implications

The EIA’s release underscores a pattern in 2025 where modest changes in physical volumes combined with stronger prices produced outsized moves in dollar values. The agency’s figures show that even small percentage changes in volumes can translate into large shifts in trade value when prices rise.

The data highlight the importance of cross-border pipelines and transmission links for regional power and gas markets, and point to how tariff and infrastructure developments can influence the flows and valuation of traded energy.

Data limitations

The EIA provided the figures cited above without additional breakdowns in this release. Where the agency identified potential future influences such as the New England Clean Energy Connect line and tariff exemptions, it did not quantify their near-term impact.

Risks

  • Tariff uncertainty - Canada’s energy exports were subject to a 10% tariff as of March 2025, and changes in tariff policy could affect trade values and energy sector margins.
  • Infrastructure dependency - Potential increases in electricity imports hinge in part on projects such as the New England Clean Energy Connect transmission line, leaving future flows sensitive to project timelines and approvals.
  • Price volatility - The large percentage increases in trade value despite modest volume changes reflect sensitivity to natural gas price swings, posing revenue and cost risks for market participants.

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