Exxon Sees Natural Gas Demand Surging in Outlook to 2050
Global demand for natural gas will rise more than 20% by 2050 from last year's level, as it displaces coal to power industries and meet higher electricity use in developing countries, Exxon Mobil said on Thursday in an annual outlook.
The projections provide the basis for the top U.S. oil producer's long-term strategy and investment. Exxon has ambitious growth plans compared to other global oil players, with a target to boost production by 18% over the next five years.
Global oil demand will plateau after 2030 but remain above 100 million barrels per day through 2050...
To Read Full Story Login Below.