ExxonMobil Sets Sights on 50 Million Tonnes of LNG Sales by 2030

ExxonMobil has raised its liquefied natural gas (LNG) sales target to 50 million tonnes per year by 2030, a significant increase from its previous target of 40 million tonnes. The revision comes amid a wave of renegotiated international gas contracts and rising global demand.

The company's executive overseeing LNG announced the new target on the sidelines of an international gas industry summit focused on global energy outlooks. According to him, Asia would account for roughly 70% of global LNG demand by 2050, justifying ExxonMobil's focus on directing investments towards this region.

The Golden Pass LNG project, a joint venture between ExxonMobil and its Qatari partner, is expected to reach full ramp-up by the end of 2027. Other gas capacity is being developed in the UK North Sea, including the Jackdaw gas field whose approval is pending.