energy leaders gather to explore the future of LNG

Liquefied natural gas (LNG) is key to meeting rising energy demands today and well into the future.

That was the key takeaway from Chevron executives at the recent LNG 2023 conference in Vancouver, Canada.

Natural gas is a fuel used to generate heat and electricity. It is a lower carbon alternative to coal. When lowered to a temperature of -260° Fahrenheit (-162° Celsius), natural gas becomes liquefied natural gas (LNG), making it easier to transport and store.

By 2050, the world’s population is expected to grow by 2 billion, and the U.S. Energy Information Administration predicts a nearly 50% increase in global energy use. Natural gas is one solution that can provide reliable, lower carbon energy at scale. Increasing natural gas production in the Permian Basin and Eastern Mediterranean can help keep pace with demand.

At the annual conference, Freeman Shaheen, the president of Chevron Global Gas, stressed the need for developing LNG’s capacity with the long game in mind.

Today, natural gas powers approximately one-third of America’s energy consumption.

Globally, it represents nearly 20% of electricity generation.