After years of snapping up wind and solar developments, hyperscalers like Amazon, Google, Meta, and Microsoft are betting that natural gas will power the data centers behind their lofty AI ambitions. But a new research report suggests they may regret their newfound affinity for the fossil fuel. Natural gas prices could triple in some parts of the U.S. in the coming years as hyperscaler demand collides with declining supply growth and rising exports of liquefied natural gas, according to Noreva, an energy research firm. Hyperscalers might not be prepared for future price shocks. 'I think everyone in the energy markets has been lulled into a sense that gas prices can't go up,' Peter Gardett, CEO of Noreva, told TechCrunch. 'You just need simple arithmetic to get to a much tighter gas market than you were in just a few years ago.' Cheap gas has pushed hyperscalers to lock up part of the market. In March, Meta said it would build a massive 7.5-gigawatt natural gas power plant in...
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