Bright prospects for LNG
Natural gas is poised to take on a much more prominent role in the world’s energy mix, Alex Volkov, ExxonMobil Vice President of Global LNG Marketing, said at the Gastech LNG conference held September 17-19 in Houston. He participated on a Global Business Leaders’ Panel discussing the long-term growth of natural gas and LNG in the world’s energy mix.
“We believe that natural gas offers the prospect of less carbon-intensive economic growth at a time when governments around the world are searching for climate-change solutions,” he said. “Accelerating the replacement of coal-fired power generation with natural gas would have huge environmental benefits.”
Currently there are about 20 countries exporting LNG and more than 40 importing, with the majority of new buyers from emerging markets. “At ExxonMobil, we see great promise in this dynamic market, and as a leading producer of natural gas we’re uniquely positioned to deliver reliable, secure supplies,” Volkov said.
Natural gas also complements the peaks and valleys of power generated by renewables such as wind and solar. “Gas provides a backbone that enables broader penetration of renewables into the energy mix,” he said.
As quickly as the LNG market is evolving, what has not changed is the value of trusted relationships. “We’re excited about the opportunities to grow these mutually beneficial relationships across the entire value chain,” Volkov said.