ExxonMobil’s LNG portfolio is on track to double by 2030 to continue to meet global needs. Currently, the company is on track to nearly double its LNG portfolio by 2030, with projects in the United States, Papua New Guinea, Mozambique and Qatar.
ExxonMobil has four LNG projects under development and expects to surpass 40 million metric tons per annum of LNG sales by 2030.
The addition of these projects further expands the company’s global LNG footprint and market access. The company expects to achieve first LNG sales from the Golden Pass development in the United States and from the Qatar North Field East expansion project near the end of 2025.
It also is targeting final investment decisions at Papua New Guinea’s Papua project in 2025 and at Mozambique’s Rovuma development in 2026.
ExxonMobil’s Global Outlook projects energy demand will increase by 15% to support a growing population and rising living standards, especially in developing countries.
The company expects natural gas demand growth by around 20% by 2050.
The current challenges of renewable energy, such as its intermittency and the high cost of energy storage, make it difficult to rely solely on renewables.
Without natural gas, countries often rely on coal to keep their grids stable and manage supply fluctuations.
“This is why LNG is crucial: it helps bridge the gap by providing a reliable and cleaner alternative to coal, ensuring grid stability and supporting the integration of renewable energy sources,” ExxonMobil noted.
