ExxonMobil Chairman and CEO Darren Woods recently offered opening remarks at the World Gas Conference in Washington.
It was fitting that this year’s event took place in the United States. After all, the U.S. is both the world’s largest consumer and producer of natural gas. New supplies from America’s shale revolution are transforming global markets.
Below are five key takeaways from Darren’s speech:
- Natural gas is boosting the U.S. economy
Over the past 10 years, natural gas has emerged as a pillar of U.S. economic strength. Jobs are being created, and domestic manufacturing is flourishing, thanks in large part to lower energy costs.
- Natural gas is a big part of the solution to our industry’s dual challenge
How do we power the 21st century, while at the same time reduce emissions? One way is through the use of natural gas. It’s already helped lower U.S. CO2 emissions to levels not seen since the 1990s.
To help ensure the emissions-reduction promise of natural gas, ExxonMobil is taking steps to further cut greenhouse gas emissions in our own operations. These include a recently announced plan to cut methane emissions by 15 percent by 2020, focusing primarily on unconventional natural gas development and processing.
- The benefits of natural gas can be expanded internationally
The results seen in the U.S. don’t need to stop in the U.S. The growing LNG trade should help spread the economic and environmental benefits of natural gas widely in the years to come.
- Policymakers need to develop a constructive framework to address climate change
While developing a global framework that brings all nations together – something the Paris Accord sought to do – policymakers would do well to promote market solutions, including the emissions-reducing potential of natural gas.
- Technology – as always – will be vital
Technological innovation will help expand supplies and drive lower-emission energy solutions, including continued work on scalable carbon capture and storage to help further environmental progress.