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The growth in US power demand is surging to its highest rate in decades, driven first by the electrification of oil and gas production and then by the build out of data centers. While still below the 5-10% growth seen in China, the world’s first “electrostate," the US power sector is experiencing rapid structural growth. The country is delivering more than a 3.5% annual power demand growth rate for the first time in several decades, potentially positioning the US as the world’s next “electrostate,” despite the strong oil and gas focus of the Trump administration.

A liquified natural gas (LNG) crisis is brewing for European countries dealing with energy insecurity in the wake of Russia’s invasion of Ukraine, as demand will outstrip supply by the end of this year, Rystad Energy research shows. Although soaring demand has spurred the greatest rush of new LNG projects worldwide in more than a decade, construction timelines mean material relief is unlikely only after 2024. Global LNG demand is expected to hit 436 million tonnes in 2022, outpacing the available supply of just 410 million tonnes. A perfect winter storm may be forming for Europe as the continent seeks to limit Russian gas flows. The supply imbalance and high prices will set the scene for the most bullish environment for LNG projects in more than a decade, although supply from these projects will only arrive and provide relief from after 2024 The European Union’s REPowerEU plan has set an ambitious target to reduce dependence on Russian gas by 66% within this year – an aim that will clash with the EU’s goal of