ExxonMobil is proud to serve as a principal sponsor at the 2022 World Gas Conference in Daegu, South Korea
June 9, 2022
Senior Vice President of LNG, Peter Clarke, spoke on a panel about the role of natural gas in the energy transition.
Senior Vice President of LNG, Peter Clarke (left) walks with SK CEO Mr. JeongJoon Yu and LCS Commercial Development Manager Tracy Lothian (right) on the exhibition floor at the World Gas Conference.
The 28th annual World Gas Conference was recently held in Daegu, South Korea. More than 4,000 people from around the world attended the conference, themed “A Sustainable Future.”
ExxonMobil was a principal sponsor, where we hosted South Korean President Yoon at our booth on the exhibition floor and met with 70 counterparties. We also hosted a successful Power Play networking event, with more than 100 attendees. Power Play brings together women in the LNG industry to network and do business.
During the conference, POSCO, a South Korean steel company, announced a major milestone with ExxonMobil. We granted technical approval for its high manganese steel to be used in LNG storage tanks. Additionally, both companies will collaborate on lower-emission technologies including hydrogen and CCS.
Peter Clarke, senior vice president of LNG, participated in the first plenary session panel and discussed the need to pursue natural gas and LNG as a solution to society’s climate and economic ambitions. He detailed the work currently being done on the supply side and within the value chain to strengthen operations and demonstrate a commitment to using the fuel as part of our role in the energy transition.
He highlighted natural gas as a versatile, abundant and lower-emission fuel, which presents an opportunity to provide a lower cost fuel source. Below are a few highlights:
- “We must remain focused on providing affordable and reliable energy to a growing population which is seeking a higher standard of living, and we must be able to this while lowering emissions. Natural gas and LNG are going to continue to play a key role in taking the place of higher carbon intensity sources.”
- “An enormous opportunity exists to achieve meaningful emission reductions by generating power with natural gas. The U.S. electricity sector has achieved most of its carbon emissions reductions between 2005 and 2019 from coal-to-gas switching – a decrease of approximately 0.5 billion metric tons of CO2 in 15 years.”
- “We are well-positioned to contribute to this endeavor and deliver LNG from large high quality resources and facilities from both our ExxonMobil operated projects and from the strategic JVs we participate in around the globe. Ultimately, we plan to nearly double our LNG supply portfolio by 2030.”
- “ExxonMobil is looking at opportunities across the value chain, including downstream of regasification terminals, working with our customers and host nations to look at various solutions such as LNG-to-power with CCS, LNG to blue hydrogen or small-scale LNG distribution.”
- “As we pursue these energy sources, there will be an increase in the critical role of long term relationships between producers and consumers. While buyers and sellers will continue to seek an element of flexibility in their energy supply arrangements, long-term contracts will underpin the new investments required to expand traditional value chains to include CCS and blue hydrogen.”
- “As we look to the future, we certainly see great potential in combining natural gas value chains with CCS technology to address the needs of hard to decarbonize industrial sectors and commercial transportation.”