North America gas outlook: higher prices, resource allocation pressures and meeting AI demand
Delegates attending the Gas, LNG and Future of Energy event in London this week heard that the US gas market is expected to grow another 40% or over 50 bcf, according to Wood Mackenzie forecasts.
“That’s a huge amount of growth,” said Eugene Kim, Research Director for Americas Gas. “Over the last 20 years, US gas production has more than doubled, and currently around 105 bcf a day, keeping prices relatively range bound within the $2-$4 bandwidth,” he said.
He said growth is coming from two areas. One is LNG exports, and the other newer form is coming from generative AI data centres.
“We had a decline power view, updated to a resilient ‘flattish’ and now have significantly adjusted our expectations for growth,” he said.
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