Strong Partnerships, Technology, Long-Term Focus Key to LNG Growth

KUALA LUMPUR, June 6 (Bernama) -- Meeting tomorrow's energy demand requires technological advancements, strong international partnerships and long-term focus, says ExxonMobil Gas and Power Marketing President Tom Walters. Walters said liquefied natural gas (LNG) was a capital-intensive business requiring long-range thinking, a robust, world-class resource, and the assurance of a long-term creditworthy customer base. "Such capital-intensive commitments require transparent and predictable regulatory environments and respect for the sanctity of contracts. "Consistent government and investor alignment is critical throughout the entire value chain," Walters said in a statement issued on the third day of the 25th World Gas Conference. He said one of the biggest uncertainties was whether wise energy policies would emerge to support the partnerships needed to develop large, capital-intensive LNG supply chains. "A long-term focus requires industry and governments to reach beyond the next election cycle into the future. "Ours is a shared responsibility to enhance free trade with the pillars of contract sanctity, the rule of law and a level transparent playing field," he said. Global gas demand is anticipated to rise more than 60 per cent by 2040, according to ExxonMobil Outlook for Energy. -- BERNAMA