LNG: Powering progress today and tomorrow

If you're like me, you've probably heard a lot of talk about the future of energy - what it could look like and what it should look like.

But the future isn't something we wait for. It's something we build. And at ExxonMobil, we're building it with liquefied natural gas (LNG).

So, what does LNG mean to the broader energy landscape? Let's take a look.

Meeting the world's growing energy needs

The world's population is growing, and fast.

We estimate about 1.5 billion more people will inhabit the planet by 2050, putting the global population on track to reach nearly 10 billion. Most of that growth will happen in developing countries, as they grow their economies and consume more energy. In fact, we expect developing countries will need 25% more energy in 2050 compared to today.

Demand for natural gas, including LNG, is expected to increase by 20% because it's affordable, abundant, versatile and has lower CO₂ emissions than coal.

Why LNG matters now

LNG plays a key role in helping countries displace high-emitting coal, enhance energy security and support renewable energy deployment.

There's been some chatter about potential oversupply, but gas remains a valuable resource. As new supply comes online, it can replace other energy sources and offer lower emissions and the flexibility the market needs.

Looking ahead, we expect LNG demand to increase by about 3% annually through 2050, helping ease pressure from limited supply growth in some regions.

While gas demand surged over the last decade, it's now tracking below earlier projections, especially in Europe and parts of the developing world, due to supply disruptions and higher prices.

Still, history shows that when new LNG supply comes online, demand tends to follow. Natural gas continues to be a reliable, lower-emissions option that can adapt to shifting energy needs.

That's today's story. By 2050, natural gas is expected to fuel 20% of the world's industrial activity and electricity demand.

The question is, who's ready to deliver?