Toby Rice: NatGas Currently Oversupplied, But New Demand Coming

Following yesterday's conference call with analysts to discuss EQT's first quarter performance, CEO Toby Rice appeared on CNBC to answer questions (watch the segment below). As he did during the quarterly update call, Rice once again zeroed in on new demand markets coming from gas-fired power plants in the Southeastern U.S. He also said the market is currently oversupplied with natural gas, but he sees two catalysts to help lower the excess gas in inventory: hot summer weather and gas-fired powergen. And the powergen doesn't just come from homes running AC to keep cool. He's talking about new data centers appearing that operate artificial intelligence and need huge new amounts of electricity to operate all those computers.

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