Exxon Boosts LNG Sales Forecast on Strong Asian Demand

ExxonMobil Corp. has boosted its forecast for liquefied natural gas (LNG) sales to 50 million tons by 2030, citing robust long-term demand in Asia and beyond.

The revised target comes despite the ongoing US-Iran conflict constraining LNG flows through the Strait of Hormuz, which has cut off roughly one-fifth of global supply.

Exxon remains bullish about demand growth in the coming decades, with senior vice president Peter Clarke stating that Asia will account for 70% of global LNG demand by 2050.

The company's Golden Pass LNG joint venture with QatarEnergy is expected to reach full production toward the end of 2027 and export around 18 million tons of LNG per year.