supply of natural gas resources will help advance global economic growth with
fewer emissions, Rex W. Tillerson, chairman and CEO of Exxon Mobil Corp. said
in a speech at the 25th World Gas Conference in Malaysia and widely
reported by media sources. By 2025, ExxonMobil predicts natural gas will
overtake coal to become the second most widely used source of energy worldwide.
historic shift of global energy markets toward increased use of natural gas
will create new opportunities for economic growth and environmental progress,
Tillerson said today.
gas is quickly becoming a key enabler of economic growth and environmental
progress around the world," Tillerson said. "We are living at a
historic moment in the evolution of energy markets. How we respond will shape
the quality of life for generations to come."
need for natural gas resources is greatest in regions like the Asia-Pacific,
where energy demand is projected to grow by more than 50 percent over the next
three decades, Tillerson said. Natural gas can help meet needs for electricity,
chemicals, and plastics that increase quality of life while reducing
environmental impacts. Two key factors influencing the market’s evolution
Asia-Pacific region that is poised to benefit greatly from access to abundant,
cleaner-burning natural gas
policy pathways are needed to ensure natural gas resources are unlocked in a
safe, economically competitive, and environmentally responsible way
to natural gas has been made possible in large part by industry advances in large-scale
liquefied natural gas (LNG) production and transportation, and in development
of unconventional gas sources such as shale gas, coal bed methane, and tight
sands through hydraulic fracturing and horizontal drilling techniques.
date, North America has been the proving ground for unconventional gas
development — and the results have been encouraging, confirming the enormous
potential of this resource," Tillerson said. "The challenge now is to
confirm the size of the global unconventional resource and to fully apply these
breakthrough technologies to nations outside North America."
learning from the North American experience, industry and government can work
together to develop a legal and policy framework that encourages the safe,
sustainable and environmentally responsible development of global natural gas
future success will depend not only on geologic conditions and technological
innovations, but also on government policies, effective business partnerships,
and disciplined investments," Tillerson said. "Fortunately, as
government and industry leaders consider the growing importance of natural gas
and the need for its development, they can study and learn from the successes
and shortcomings of the North American experience."
said the policies needed to responsibly develop natural gas should hold the
industry accountable to operational integrity and excellence without stifling
innovation and investment.
know that when governments establish long-term, market-oriented policies, our
industry will respond with the long-term planning, partnerships and projects
that reshape the future for the better," he said. "With sound
policies in place around the world, we can help nations and peoples achieve
their economic, environmental, and energy security goals -- and as we do so, we
can create opportunity and progress for all."