Global demand for LNG to rise

Business, Normal

LARGE-scale liquefied natural gas (LNG) projects would be necessary to meet increasing global demand for natural gas, Tom Walters, president of ExxonMobil Gas and Power Marketing Co, said at a panel presentation at the international petroleum technology conference (IPTC) in Doha.
Presenting information from ExxonMobil’s 2009 energy outlook, Walters noted that despite the current economic environment, economic progress would be a key driver of energy demand over the long term.
“We expect global energy demand to grow from about 230 million barrels a day of oil equivalent (mbdoe) in 2005 to over 300mbdoe by 2030 – an increase of almost 35%,” he said.
“The world’s growing demand for gas will challenge our industry to deliver projects on a scale that was barely considered even a decade ago.
“The ability to conceptualise, commercialise and execute large-scale, multi-billion dollar projects has become an increasingly important differentiator, which will remain over the coming decades,” he said.
He said with gas demand expected to experience strong growth over the next 20 years, resource holders must find ways of developing supplies to meet this growth.
Recognising that all types of energy were needed to meet demand, Walters said: “Not only will energy demand be much larger in 2030 than it is today, the mix of fuels used to meet that demand will change as well.
“Gas, in particular, will play an increasingly important role in meeting the world’s future energy needs, growing at 1.85 over the 2005 to 2030 period.” – BusinessWire