Exxon Mobil Raises 2030 LNG Sales Target to 50 Million Tons

Exxon Mobil Corp. increased its 2030 liquefied natural gas sales forecast to 50 million tons per year, raising the target from 40 million tons. The company is prioritizing long-term demand in Asia, where it expects 70% of global LNG demand to be concentrated by 2050.

This strategic shift occurs as a war between the United States and Iran constrains flows through the Strait of Hormuz. The conflict has cut approximately one-fifth of the global supply, pushing gas prices to multi-year highs. While some countries are pivoting toward coal, nuclear, or renewable energy to address these shortages, Exxon Mobil continues to expand its capacity.

A central part of this expansion is the Golden Pass LNG joint venture with QatarEnergy. Located near the Texas-Louisiana border, the facility is expected to reach full production by late 2027 with an annual export capacity of 18 million tons.