ExxonMobil raised its LNG sales forecast, betting that long-term demand in Asia and beyond will remain strong, even though the war in the Middle East prompted some countries to reconsider their dependence on this fuel. Peter Clark, senior vice president of liquefied natural gas at ExxonMobil International, said in an interview on the sidelines of the Bangkok International Gas Technology Conference that the company expects its annual sales volume of liquefied natural gas to reach 50 million tons by 2030, and will continue to rise after 2030 as the market grows. The previous target was to sell 40 million tons per year by 2030. At the time of this increase in expectations, the US-Iran conflict restricted the transportation channel for liquefied natural gas through the Strait of Hormuz. Before the conflict, about one-fifth of the world's liquefied natural gas supply came from the Persian Gulf region, but now this part of the supply is blocked. Supply shortages have driven natural gas prices to multi-year highs.

ExxonMobil raised its LNG sales forecast, betting that long-term demand in Asia and beyond will remain strong, even though the war in the Middle East prompted some countries to reconsider their dependence on this fuel. Peter Clark, senior vice president of liquefied natural gas at ExxonMobil International, said in an interview on the sidelines of the Bangkok International Gas Technology Conference that the company expects its annual sales volume of liquefied natural gas to reach 50 million tons by 2030, and will continue to rise after 2030 as the market grows. The previous target was to sell 40 million tons per year by 2030. At the time of this increase in expectations, the US-Iran conflict restricted the transportation channel for liquefied natural gas through the Strait of Hormuz. Before the conflict, about one-fifth of the world's liquefied natural gas supply came from the Persian Gulf region, but now this part of the supply is blocked. Supply shortages have driven natural gas prices to multi-year highs.