AGF says AI data-center power demand boosts case for US natural gas generation
XLE•Natural gas seen as near-term workhorse
Natural gas was seen as the near-term workhorse, already 43% of U.S. generation, with output projected at 1.7 billion cubic meters/day by 2035.
Policy support cited for nuclear investment
U.S. policy support was cited, including about USD 20 billion for reactor design, tax credits for nuclear production and investment.
AI data-center demand seen tightening power supply
AGF analysis flagged power supply as a potential constraint on AI data-center buildouts, with demand expected to surge through 2035. BloombergNEF forecast data-center electricity use at about 106 gigawatts by 2035, more than double current levels.
Nuclear viewed as long-term decarbonization option
Nuclear was positioned as a long-term decarbonization option, holding about 20% of U.S. power demand through 2035. AGF highlighted potential upside for gas producers, midstream infrastructure, uranium suppliers and reactor builders, despite long nuclear development timelines.
