LNG is already a significant supply source for many countries in the world.
The LNG industry has grown steadily since the first deliveries flowed to Europe in 1964. Propelled by natural gas demand in countries where domestic production was inadequate to cover local needs, the global LNG trade has expanded at an annual rate of about 8 percent since the late '70s.
Initially most LNG was produced in Africa and Asia. Throughout the '90s, additional production has come from the Middle East and Trinidad. The largest consuming regions for LNG include Asia and Europe, but the United States and Europe are expected to support substantial new LNG demand growth.
Global LNG demand is expected to increase by more than 4 percent a year through 2030, driven by demand in North America and Europe as well as Asia Pacific markets. By 2030, LNG demand is expected to exceed 500 million tons a year, representing almost 16 percent of the world's gas demand.
Read more:
The Outlook for Energy: A View to 2030 PDF
2007 ExxonMobil Financial & Operating Review PDF
