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LNG (Liquefied Natural Gas)

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Natural gas’ abundance, flexibility and comparative environmental benefits drive projected growth more than any other energy source.

All of the world’s energy sources will be needed to meet rising demand to 2040, but there will be a marked shift toward cleaner fuels, particularly natural gas. Not only are natural gas resources geographically and geologically diverse, abundant, reliable and versatile in use (power generation; residential, commercial, industrial heating and cooking; and even transportation), but also natural gas emits significantly fewer pollutants than coal power generation, including NOx, SOx, particulates, mercury, and up to 60 percent fewer GHGs.

Oil and natural gas technologies, such as horizontal drilling and hydraulic fracturing, have unlocked vast unconventional resources. These supplies have dramatically altered the energy landscape over the past decade, particularly in North America. Natural gas usage is projected to continue to expand rapidly. We expect about 40 percent of the projected growth in global energy demand from 2016 to 2040 will be met by natural gas.

 

Effectively managing methane emissions

Natural gas is a versatile fuel, capable of powering utilities, homes and transportation. It also emits significantly fewer pollutants than coal power generation, including NOx, SOx, particulates, mercury, and up to 60 percent fewer GHGs. As confirmed by the International Energy Agency, methane emissions do not negate the substantial climate change benefits of natural gas versus coal, but mitigating emissions can further enhance those benefits. This is a key component of ExxonMobil’s approach to developing future energy technology. The company continues to implement cost-effective methods to reduce methane and other hydrocarbon emissions in our operations.

World LNG Trade

In the last 50 years, LNG trade has grown on average at 11% per year, from 2.6 MT in 1971 to 372.3 MT in 2021. The growth was steadily positive (except 1980-81 and 2012) with 40% of the time double-digit growth rates.

The cumulated number of LNG deliveries exceeded 116 000 in 2021.

In 2021, LNG has been delivered to 44 different markets around the world. The number of LNG importing markets has been multiplied by almost 5 since the 1990s with the most significant additions in the 2009-2016 period.

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There is a growing need for market flexibility, which has led the share of spot and short-term LNG trade to increase from 5% in 2000 to 40% in 2020 and 36.6% in 2021.

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