EQT CEO on Fox Business – “We See anywhere from 10% to 20% increase in Nat Gas”

This is a huge story, especially considering that natural gas is supplying about 40% of the US grid. Toby Rice, CEO of EQT, really articulates some huge cost savings for consumers. Pipelines matter, and they can support growth while saving money and generating returns for investors. We are reaching out to the EQT team and getting him booked on the Energy News Beat Podcast.

1. Volatility in Natural Gas Prices & Middle East Conflict The discussion centers on how geopolitical tensions in the Middle East are creating instability in global LNG markets. Specifically, threats to the Strait of Hormuz and halted production in Qatar (which supplies ~25% of global LNG) are driving price volatility. The U.S. government is responding with measures like Navy escort support for tankers to protect energy flows.

2. American Energy System Resilience A key theme is how the U.S. shale gas industry has insulated Americans from these global shocks. The transcript highlights technological advances that have dramatically improved efficiency—a 21-fold increase per rig—and how the American energy sector stepped up during recent challenges like Winter Storm Fern.

3. Pipeline Infrastructure Gaps The lack of adequate pipeline infrastructure is identified as a critical issue limiting natural gas distribution. The example given is Boston, which, despite being near major gas fields, pays some of the world’s highest natural gas prices due to insufficient pipeline capacity.

4. Rising Demand from AI & Data Centers There’s significant discussion about surging natural gas demand driven by the AI boom and data center expansion. The transcript notes expected increases of 10-20 BCF per day in power demand, with potential industry capacity to meet this with a 50-60 BCF surplus. The White House is encouraging tech companies to secure their own electricity supply.

5. EQT’s Strategic Positioning The company’s recent acquisition of Equitrans and strategy to maintain low-cost production is discussed, including plans to build natural gas power generation facilities adjacent to data centers to help reduce consumer energy costs.

This is a huge interview from Fox Business, and here are some key quotes.

” Welcome back natural gas prices volatile as the Middle East conflict threatens LNG flows through the Strait of Hormuz Cutter has halted production after Iranian drone strikes Prices somewhat stabilized after Treasury Secretary Scott Bassett pledged additional steps to support shipping in the Gulf and the president told us he will be helping to provide insurance for tankers. He even said that the Navy would escort tankers across to ensure safety of the flow of energy. The White House preparing further measures to protect that flow. Analysts are warning prolonged LNG disruption could push prices higher, adding to inflation worries while weighing on global growth. Joining me now is the president and CEO of EQT, Toby Rice. Toby, good to see you. Thank you so much for being here. Of course, your company is America’s largest natural gas operator. What is your take on all of this? “

” We’re fracking with jet engines right now. The technology that we’re deploying to crack the code on Shale and bring more abundant cost-effective energy to Americans is nothing short of spectacular. We’ve seen a 21-fold increase in the efficiency per rig. “

” But just to frame up the resource potential we have, we believe we can create a surplus of 50 to 60 BCF a day of natural gas to service, enhance LNG or meet all power demand needs we have. So we’ve got it. The question is, can we get the infrastructure built? “