This reference is for an abstract only. A full paper was not submitted for this conference.
The natural gas industry is undergoing significant fundamental changes as it transitions from a regional to global market. The United States hashistorically had limited interaction with the rest of the world in importing natural gas, due to sizeable North America reserves. However, as large gas producing fields mature and decline in production, while the demand for clean fuels for power generation grows, US imports outside of North America are expected to increase dramatically. Current gas imports are primarily via pipeline from Canada, however, in the future, the US is expected to import liquefied natural gas (LNG) from many parts of the world.
Similarly, with growing gas demands Europe and Asia dependence on imported gas is expected to grow significantly. This will require investment in new pipeline projects to increase transit capacity for gas across adjacent regions. Also, import needs are driving huge LNG supply projects in Africa, the Middle East and Asia-Pacific.
Security of gas supplies is increasingly a focus area for governments of these regions. LNG will increase linkages for natural gas around the world. Will the desired gas supply security be achieved?
In this presentation of ExxonMobil's "Industry Gas Outlook", we will review the recent growth of the natural gas industry for historical context, where we are today, and the exciting challenges the global gas industry faces to find and deliver needed supplies.
