Large-scale LNG Projects Necessary

Increasing global demand for natural gas can be met by large-scale liquefied natural gas (LNG) projects, according to ExxonMobil.

Speaking at a panel presentation at the International Petroleum Technology Conference in Doha, the company’s Gas and Power Marketing Company president Tom Walters said that despite the current economic environment, economic progress will be a key driver of energy demand over the long term.

“We expect global energy demand to grow from about 230 mbdoe in 2005 to over 300 mbdoe by 2030 – an increase of almost 35%,” he said. “The ability to conceptualise, commercialise and execute large-scale, multibillion dollar projects has become an increasingly important differentiator, which will remain over the coming decades.”

He added that over the next two decades, an increasingly important role will be played by natural gas in the global energy mix.

Resource holders should find ways of developing supplies to meet the strong growth over the next 20 years and should opt for large-scale LNG projects.

“Gas in particular will play an increasingly important role in meeting the world’s future energy needs, growing at 1.8% over the 2005 to 2030 period,” Walters said.