There are lots of reasons to be excited about natural gas, according to the CEO of EQT Corp., the largest pure-play producer of the commodity in the U.S. “The market is screaming that we need more energy in this world,” EQT president and CEO Toby Rice told CNBC’s Brian Sullivan in an interview at the CERAWeek by S & P Global energy conference in Houston. Rice cited several factors that will support demand for natural gas, including the shift in electric power generation to natural gas from coal, increased use of LNG and the need for more power to fuel data centers that are running artificial intelligence applications. Rice’s comments come as natural gas prices are trading at 52-week highs. @NG.1 YTD mountain Natural gas prices year to date. The trend is so pronounced that some tech investors have latched on to the idea of betting on EQT stock as a play on the long-term potential of AI, Rice said. EQT shares are up more than 26% over the past year. Notably, unlike the large tech stocks that have pulled back in recent weeks, EQT’s stock is still positive year to date, with a gain of about 3%. “We welcome all investors who see the value of natural gas,” Rice said. “Not just what the value of natural gas is today, but decades into the future.” Watch the full video for more insight into what’s driving natural gas demand, according to Rice.
As natural gas hits new highs, EQT CEO says ‘the market is screaming that we need more energy’
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