ExxonMobil has said that its joint ventures in Qatar will start up projects over the next two years that will bring more liquefied natural gas to the market than any other international oil company.
Rex Tillerson, chairman and CEO of ExxonMobil has said that new energy technologies for energy supply, such as those enabling an increase in liquefied natural gas (LNG) supplies, together with technologies to improve energy efficiency, will be critical in meeting the world’s energy challenge.
The oil major’s CEO noted that, on the supply side, technological breakthroughs in the production and transportation of LNG, such as ExxonMobil and Qatar Petroleum’s Q-Max technology enable an 80% increase in LNG ship cargo capacity, facilitating the development of a global market for cleaner-burning natural gas.
Mr Tillerson outlined the Adriatic LNG terminal project led by ExxonMobil, Qatar Terminal and Edison. The terminal is located in the northern Adriatic Sea offshore Italy, and is a key component of ExxonMobil’s plans to bring new LNG supplies to the market.
Mr Tillerson said: Partnerships, such as the one between Qatar and ExxonMobil, are making LNG’s potential a reality. Technological advances, pioneered with Qatar Petroleum and others, have enabled ExxonMobil to achieve new economies of scale for development of the North Field, the largest non-associated natural gas field in the world.