The historic shift of global energy markets toward increased use of
natural gas will create new opportunities for economic growth and
environmental progress, Rex W. Tillerson, chairman and chief executive
officer of Exxon
Mobil Corporation (NYSE:XOM), said today.
As global energy demand increases, so too will demand for abundant,
cleaner-burning natural gas resources, Tillerson said in a speech at the
25th World Gas Conference in Malaysia. By 2025, ExxonMobil
predicts natural gas will overtake coal to become the second most widely
used source of energy worldwide.
“Natural gas is quickly becoming a key enabler of economic growth and
environmental progress around the world,” said Tillerson. “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.”
The 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. Natural gas can help meet needs for
electricity, chemicals, and plastics that increase quality of life while
reducing environmental impacts.
Access 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.
“To 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
By 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 resources.
“Our 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
Tillerson said the policies needed to responsibly develop natural gas
should hold the industry accountable to operational integrity and
excellence without stifling innovation and investment.
“We 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 more information about ExxonMobil’s involvement in the 25th World
Gas Conference, visit our website.
To read Rex Tillerson’s full speech, visit www.exxonmobil.com/speeches.
ExxonMobil, the largest publicly traded international oil and gas
company, uses technology and innovation to help meet the world’s growing
energy needs. ExxonMobil holds an industry-leading inventory of
resources, is the largest refiner and marketer of petroleum products and
its chemical company is one of the largest in the world. For more
information, visit www.exxonmobil.com.