Natural gas demand is strong and additional infrastructure is needed to sustain the growth of renewables and electrification, Williams President and CEO Alan Armstrong said during an interview with CNBC, after first quarter 2023 earnings were announced.
“It’s very clear we’ve got to straighten out our permitting reform to take advantage of what the world needs, which is low-priced, affordable natural gas which can dramatically reduce our emissions right here, right now, and as well, provide affordable energy and certainly energy security for U.S. allies,” he said on “Squawk on the Street.”
During the quarterly call with Wall Street analysts, Armstrong said “natural gas is the solution for the most complex challenge of our time — producing affordable and reliable energy while meeting our climate goals.”
But access to abundant and low-cost natural gas reserves is dependent on having the appropriate infrastructure to move energy when and where it is needed.
“We are seeing and feeling today the impacts of inadequate infrastructure with consumers bearing the brunt of these actions in the form of high utility bills, unnecessary blackouts and energy-driven inflation,” Armstrong told analysts.
“The good news is that we have a solution that is readily available, a solution that will support global emission reductions, keep energy cost affordable and grow our nation’s competitiveness.”
Read the press release about Q1 2023 results Williams here.