Natural gas producer Expand Energy on Tuesday said it expects U.S. Gulf Coast LNG export capacity to double to about 28 billion cubic feet (bcf) a day by 2030. Expand, among the top U.S. gas producers, also expects demand for gas to power AI and data centers to be about 4 bcf per day to 5 bcf a day between now and the end of the decade, CEO Domenic Dell’Osso said at an energy conference in Austin. LNG markets will see periods of oversupply before tightening, Dell’Osso added, echoing recent worries from TotalEnergies CEO Patrick Pouyanne that U.S. was building too many liquefied natural gas plants and that it could lead to a long-lasting glut in the market if all planned projects come online. Gas prices could average over $5.50 per million cubic feet (mcf) and also fall below $2.50 per mcf between now and 2027, Dell’Osso said, signaling volatility in the markets. While the administration of U.S. President Donald Trump is supportive of adding gas infrastructure, litigation challenges and high costs to build new pipelines are limiting factors, Dell’Osso said.
(Reporting by Arathy Somasekhar in Houston, Editing by Louise Heavens)