According to QatarEnergy's CEO, the rising demand for AI-powered power could lead to a shortage of LNG in 2030.
Saad Al-Kaabi, CEO of QatarEnergy, said that the growing demand for electricity from AI and data centers, combined with an increase in fuel consumption in Asia and European gas requirements, could turn a global glut of liquefied gas into a shortage by 2030.
Concerns about a glut of LNG, which could lower prices, have been raised by a record-breaking?wave? of LNG production, due to come online between 2026-2029. The new LNG supply is expected to be boosted by projects like the 'Golden Pass LNG' on the U.S. Gulf Coast, and Qatar North Field Expansion.
Kaabi added that the demand expectation has increased "mainly because of... AI and data center requirements which are sustained power needs as a basis load".
"If all this works out, then I believe there will be a shortage instead of a?oversupply of LNG by 2030," he said at the 'LNG2026' conference in Doha. He was referring to Europe becoming a major LNG purchaser?since it stopped importing Russian gas following Russia’s invasion of Ukraine.
(source: Reuters)
