CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1896 Tues; -1.71% Y/Y

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: Mexico Inflation Down To 4.55% In November

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NATGAS: AI Poised to Jolt Natgas Prices: Bloomberg

NATGAS
Energy BulletsBulletPower BulletsCommodities

US natural gas prices, largely stagnant in recent years due to high shale production, could spike due to new demand from AI-powered data centres, Bloomberg said.

  • AI data centres are seen as a major future driver of US natural gas demand, in addition to the expansion of liquefaction facilities for LNG.
  • While EQT’s CEO Toby Rice told Bloomberg that near-term prices should remain in the $2-$3/MMBtu range amid continued oversupply, he cautioned that AI may deliver a more dramatic jolt to the US market.
  • Microsoft’s two-decade deal for electricity supplies from the Three Mile Island nuclear reactor demonstrates the scale of upcoming AI demand.
  • Rice told Bloomberg that AI-linked demand for electricity will result in a 6-13 bcf/d rise in short-term gas demand. Current total US consumption is around 100 bcm.
Source: Bloomberg
128 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

US natural gas prices, largely stagnant in recent years due to high shale production, could spike due to new demand from AI-powered data centres, Bloomberg said.

  • AI data centres are seen as a major future driver of US natural gas demand, in addition to the expansion of liquefaction facilities for LNG.
  • While EQT’s CEO Toby Rice told Bloomberg that near-term prices should remain in the $2-$3/MMBtu range amid continued oversupply, he cautioned that AI may deliver a more dramatic jolt to the US market.
  • Microsoft’s two-decade deal for electricity supplies from the Three Mile Island nuclear reactor demonstrates the scale of upcoming AI demand.
  • Rice told Bloomberg that AI-linked demand for electricity will result in a 6-13 bcf/d rise in short-term gas demand. Current total US consumption is around 100 bcm.
Source: Bloomberg