global energy, liquefied natural gas are topics at gastech 2022

Nigel Hearne, executive vice president of Oil, Products and Gas, (center) during a panel discussion at Gastech 2022.

The importance of liquefied natural gas (LNG) in enabling access to affordable, reliable and ever-cleaner energy received top billing when our representatives addressed Gastech 2022 earlier this month.

This year, Italy hosted one of the world’s largest meetings for the global energy sector and its industries focused on LNG, natural gas, hydrogen and lower carbon solutions.

The importance of energy and energy security were key topics. Having the conference in Milan this year turned out to be timely and appropriate given recent energy market developments, especially in Europe, where natural gas prices are at an all-time high. We believe Chevron’s expertise and assets will help us expand our market presence to help meet demand.

Market volatility from supply chain issues, geopolitical crises and energy security has affected consumers around the world. Nigel Hearne, Chevron’s executive vice president of Oil, Products and Gas, flagged another looming challenge—access to reliable energy and what will be necessary to meet the world’s energy needs. “We must work together across sectors to develop pragmatic energy solutions. We will need to recognize that customers and countries will have different needs and priorities. There is no singular or right path to decarbonization of the energy system,” he said.

Europe’s energy crisis has raised questions about energy security. To reach areas where demand has intensified, Chevron is looking at increasing LNG exports from the U.S. and other regions. In a discussion at the conference, Colin Parfitt, Chevron’s vice president of Midstream, noted the importance of location and exploring other export pathways such as our operations in the Eastern Mediterranean, which includes Israel.

LNG will play a critical role in leading the world to a lower carbon future and can help with reliability, according to Freeman Shaheen, vice president of Chevron’s Gas Supply and Trading. He spoke on a panel about reimagining the energy mix across Asia.