Natural Gas Supercycle? Eric Nuttall & Range Resources CEO Break Down LNG, AI & Supply Constraints

Video Description

Eric Nuttall, December 4, 2025 – In this week’s update, Eric sits down with Dennis Degner, CEO of Range Resources, to break down why natural gas fundamentals are strengthening into the back half of the decade. With U.S. LNG exports surging toward 20 Bcf/d and data-center-driven power demand accelerating, the outlook for natural gas supply and pricing is rapidly tightening. Dennis shares on-the-ground insights from one of America’s largest producers (1.6 Bcf/d—equivalent to ~8% of Canada’s market) and explains why both LNG growth and grid electrification are reshaping long-term demand. Key Topics Covered: • LNG Demand Accelerating – U.S. LNG exports have climbed from 1–2 Bcf/d just a few years ago to 18 Bcf/d today, approaching 20% of U.S. production. • A Path to 30–35 Bcf/d by 2030 – Projects under construction and recent FIDs could double current LNG exports by the end of the decade. • AI & Data Center Power Demand – Early-stage announcements alone point to 3–5 Bcf/d of new natural gas demand in the PJM market. • Natural Gas Becoming a Global Commodity – LNG growth increasingly allows gas to trade on a global basis rather than as a trapped domestic market. • Concerns About a 2027–28 LNG Overbuild – Despite headlines, futures pricing remains firm at $3.90–$4.00, showing no meaningful backwardation. • Industry Discipline & M&A Consolidation – Slower development cadence and consolidation support a more balanced long-term supply response. • Where Will Future Supply Come From? – Even with associated gas and Haynesville growth, demand will likely require supply from Canada and Appalachia—highlighting the need for U.S. permit reform and new infrastructure. • Bullish Price Backdrop – With gas near $4.95/Mmbtu, fundamentals continue to tighten across both LNG and power markets. 👉 Don’t forget to like, subscribe, and turn on notifications to stay updated with Eric’s weekly insights on the energy sector. #NaturalGas, #LNG, #EnergyMarkets, #EnergyInvesting, #OilAndGas, #GasPrices, #NorthAmericanEnergy, #ShaleGas, #EnergySecurity This video is for information purposes only and should not be relied upon as investment advice. We strongly recommend that you consult your investment professional for a comprehensive review of your personal financial situation before undertaking any investment strategy. Information herein is subject to change without notice and Ninepoint is not responsible for any inaccuracies or to update this information. The opinions, estimates and projections (“information”) contained within this report are solely those of Ninepoint Partners LP (“Ninepoint”) and are subject to change without notice. Ninepoint makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Ninepoint assumes no responsibility for any losses or damages, whether direct or indirect, which arise out of the use of this information. Ninepoint is not under any obligation to update or keep current the information contained herein. The information should not be regarded by recipients as a substitute for the exercise of their own judgment. Please contact your own personal advisor on your particular circumstances. Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any investment funds managed by Ninepoint Partners LP. These views are not to be considered as investment advice nor should they be considered a recommendation to buy or sell. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction.