ExxonMobil Raises LNG Sales Target for 2030
ExxonMobil has increased its target for liquefied natural gas (LNG) sales by 2030 from 40 million to 50 million tons annually, doubling current production levels. This move reflects the company's confidence in growing global LNG demand and aims to secure a larger market share within this expanding sector. ExxonMobil currently holds about a 6% share of the global LNG market with operations across several countries including the U.S., Papua New Guinea, Mozambique, Australia, and Qatar. Despite recent challenges such as damage from Iranian attacks on its facilities in Qatar and disruptions due to the closure of the Strait of Hormuz, Exxon has begun production at its Golden Pass facility in the U.S. The company is investing heavily in LNG expansion projects like Golden Pass and North Field Expansion in Qatar. It also plans new developments in Papua New Guinea and Mozambique, though these may not start producing until after 2030.
Topics: Energy Market ExxonMobil LNG