US natgas producers chase AI-driven surge in power demand to weather low prices

Quick Summary:

Shale gas producers in the U.S.

Permian Basin are sounding out data-center operators building up capacity to power a boom in AI applications, aiming to ease the pressure from a nearly two-year slump in the prices of the commodity.

"Rather than continuing to get low margins on our gas...we're trying to figure out a way to be creative on ways to turn some of that natural gas into more value for our shareholders," said Diamondback Energy CEO Travis Stice.

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Category: EconomyBusiness

Markets: SingaporeMexico

Topics: Demand Texas Permian Natural Basin Data Center Energy Power Operators Carbon

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 23:15:25 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 549 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23740913

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