Chevron and ExxonMobil Increase Commitment to Liquefied Natural Gas Expansion
At the Gastech conference in Bangkok, Chevron Corporation (NYSE:CVX) and ExxonMobil Holdings Corporation (NYSE:XOM) both announced expanded liquefied natural gas (LNG) ambitions. Both companies cited long-term demand growth as a key driver for their strategies amid global energy security concerns reshaping buyer preferences. Chevron plans to expand LNG supply capacity across four continents, aiming for 20 million metric tons annually—16 million from its own projects and 4 million contracted in the US Gulf Coast. ExxonMobil raised its 2030 sales target to 50 million tons per year, up from a previous goal of 40 million, leveraging existing assets like Golden Pass in Texas. The companies are both active in Australia’s LNG sector—Chevron with Gorgon and Wheatstone projects, ExxonMobil as a partner. Despite strategic similarities, neither company provided detailed capital commitments or specific project timelines.
Topics: Chevron ExxonMobil Gastech Conference Global Gas Markets LNG