PERTH: One of world s largest oil companies, ExxonMobil on Thursday said LNG, with its relatively low carbon emissions, would supply about one third of Asia s energy needs by 2030.
Speaking at an oil and gas conference here, ExxonMobil Development Company vice president of established areas projects, Alan Hirshberg said, LNG will account for almost a quarter of global energy demand, up from 20 per cent today and no fossil fuel will grow faster than natural gas between now and 2030.
Gas demand for power generation will grow at 2.2 per cent annually, while demand in commercial, residential and industrial sectors is expected to grow at just under 1.5 per cent per year, he said.
By 2030, overall LNG demand will triple by 2030 and the regional distribution will change significantly. In 2000, the LNG business was still primarily Asian focused, much as if it had been for the previous 30 years.