EQT CEO Highlights Overseas Markets for Natural Gas Amid US Infrastructure Challenges
EQT CEO Toby Rice emphasized the company's focus on international markets for natural gas sales growth, citing challenges in US infrastructure and permitting that hinder domestic expansion. While acknowledging Venezuela's gas reserves, EQT has no plans for drilling there, as global gas prices remain significantly higher than those in the US, making overseas markets more appealing.
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EQT, a leading US natural gas producer, is not pursuing drilling in Venezuela but is focusing on overseas markets for future sales growth. CEO Toby Rice noted at Davos that US natural gas demand is increasing faster than pipeline and storage infrastructure, a situation exacerbated by permitting bureaucracy.
He stated that without congressional permitting reform, the US natural gas market will remain volatile. Meanwhile, new LNG export terminals are progressing, and global gas prices are significantly higher than US prices, making international markets attractive. Despite the potential of Venezuela's gas reserves, EQT has no plans for new drilling projects there.
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