EQT Corporation (0IDU.L)

AI energy needs will drive natural gas demand: EQT CEO

Global gas demand is forecasted to grow by 2.5% in 2024, according to the International Energy Agency. With energy demand rising globally, sources like natural gas are expected to be in high demand. EQT (EQT) CEO Toby Rice joins to discuss this development. Rice highlights that the AI revolution has led to increased energy use. He projects that power energy demand will increase by over 75 gigawatts, with a majority of it powered by natural gas. "It's never been a more important time to produce energy in this country, whether it's LNG to secure our allies or feed our tech customers in the AI boom. Unfortunately, it's never been more difficult to produce energy in this country. This is something we need to fix," he tells Yahoo Finance, advocating for political reform to ease this pressure. Regarding natural gas, Rice describes this form of energy as "unique." He emphasizes that it provides security through "affordable and reliable energy," while also contributing to global decarbonization efforts. He predicts that natural gas will meet "a major league energy demand that's coming to this country." "We need to be moving towards a 'best of the above' approach towards energy, and that means the most reliable, cleanest, most affordable source. As history has shown, that has proven to be natural gas," he tells Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith