Gas exports from US, Canada being mulled by ExxonMobil
Oil and gas major ExxonMobil is considering the possibility of exporting natural gas from the US and Canada, CEO Rex Tillerson told company shareholders at a meeting Wednesday.
Tillerson said that ExxonMobil is studying the possibility of exporting natural gas from the US Gulf Coast and Canada in view of the fact that better technology has substantially boosted US gas reserves to the extent that it would allow for exports.
Responding to a shareholder question about exports at the company's annual shareholder meeting, Tillerson did not provide immediate details.
But later during media interaction he revealed that the company's 2 billion cubic feet per day Golden Pass import terminal near Beaumont, Texas, offered one such option of starting exports.
Several applications for export of LNG from various projects in the US and Canada have been filed with regulatory agencies.
In the first quarter, Exxon Mobile saw its earnings decline year-over-year.
Tillerson revealed that the multiple options being considered included the Golden Pass.
The others include ExxonMobil's own supplies from Texas shale gas from the Barnett Shale play in North Texas and the Eagle Ford Shale in South Texas, apart from the Woodford Shale in Oklahoma, Tillerson said.
The company is also looking at western Canadian exports because of its stakes in the Horn River play there, he added.
The largest US natural-gas producer, ExxonMobil has recently that it is studying exports from domestically produced natural gas.
Tillerson's remarks are the latest sign that the company is seriously considering the trend set by other smaller companies, such as Cheniere Energy Inc. (LNG), which already have necessary permits to export natural gas from the US.
Source: United States News.Net
- 380 reads
