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.