As the world prepares to power its grids in 2035, a new generation of energy sources is vying for dominance – and natural gas is no longer considered the straightforward choice it once was.

The Middle East’s ongoing turmoil has exposed the vulnerabilities of natural gas supply chains, with Iranian drone strikes taking out significant portions of Qatar’s infrastructure, a major exporter. This development has created a waitlist for gas turbines so long that today’s orders may not be fulfilled until the early 2030s.

But it’s not just the availability of natural gas that’s causing concern – surging demand is also creating opportunities for new energy sources to emerge. Tech companies are increasingly looking to AI-powered innovation to fuel their own power needs, driving investment into fusion and fission startups.

For many, natural gas remains a tried-and-tested option for 24/7, baseload power. However, this convenience comes at a cost – the war in the Middle East has created uncertainty around supply chains, while surging demand is pushing up prices and creating waitlists for turbines.

A fresh crop of competitors is already on the horizon, with small modular nuclear reactor (SMR) startups and fusion power startups set to connect their first commercial power plants to the grid in the next five to seven years. These newcomers may hold the key to displacing natural gas power plants – but only time will tell.