Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Exxon Mobil Corporation : ExxonMobil Says Asia-Pacific To Account For Third Of Global Gas Demand By 2040

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/17/2012 | 06:15am CEST

The need to develop unconventional sources of gas, such as coal seam gas, is increasingly important to meet the rising demand from Asia and an expected surge in gas-fired power stations over the coming decades, an executive at U.S. oil giant ExxonMobil Corp. (XOM) said Thursday.

Australia is well positioned to meet the demand for gas, although it risks dulling its competitive edge with tax and other policy decisions by its government, said Emma Cochrane, vice president of Asia Pacific and Africa for ExxonMobil's gas and power marketing.

In the text of a speech to the American Chamber of Commerce in Melbourne, Ms Cochrane said the Asia-Pacific region will account for almost a third of total worldwide gas demand by 2040 while demand in the U.S. and Europe will be flat to slightly lower.

At the same time, Australia's importance as a supplier of liquefied natural gas is growing and it is expected to provide a fifth of global supply by 2020, she said.

"A global market is emerging with the Asia-Pacific region poised to become the largest global gas market," Ms Cochrane said. "In some respects, the emergence of unconventionals--the Shale Gale, as some call it--could not come at a better time."

Worldwide demand for gas for power generation, meanwhile, is projected to rise 85% over three decades from 2010 levels and will represent nearly half of total gas demand, she said.

Natural gas is cleaner-burning, affordable and abundant. And natural gas power plants can be built quickly and cost effectively.

"With today's improved turbine technology, natural gas power generation can provide a significant source of flexibility and reliability to a power grid, responding to rapid changes either on the supply or the demand side," Ms Cochrane said.

Advances in technology have allowed more than 15,000 shale wells to be unlocked in the U.S. between 2008 and 2011, but in the rest of the world fewer than 100 shale wells have been drilled, she said. Australia in the same time period has drilled more than 1,000 coal seam gas wells in eastern Queensland, and more are expected over the next 20 years.

However, Ms Cochrane said while the coming years will present enormous opportunities for Australia, there are also genuine challenges for the energy industry.

"I note with some concern recent policy drifts which, taken together add significant cost to our industry and potentially lessen incentives for long-term investment," she said.

The country specifically has introduced a tax on carbon emissions, as well as changed a range of other taxes that are applied to the industry and supported an environment of tough labor relations policies, Ms Cochrane said.

"Only with the right regulatory framework will Australia and other countries in the region capture their share of demand growth," she said.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EXXON MOBIL CORPORATION
06/24 DOWNTOWN IMPACT : XTO exodus has Fort Worth scrambling
06/23 BP : Final Investment Decision Taken On Rovuma LNG Project
06/23 AN UNHOLY ALLIANCE : Israel and the Saudis
06/23 EXXON MOBIL : Spring Hill College Receives Donation from ExxonMobil's 3-to-1 Mat..
06/23 EXXON MOBIL : China resolute on maritime rights
06/22 EXXON MOBIL : EDITORIAL MTBE money can serve state well
06/22 SBM OFFSHORE : Awarded Contracts for the ExxonMobil Liza FPSO
06/22 EXXON MOBIL : Production at ExxonMobils Liza Field Expected to Start in 2020
06/21 EXXON MOBIL : Supports Republican Carbon Tax, Greenpeace Response
06/21 EXXON MOBIL : ExxonMobil to advance Liza oil development in offshore Guyana
More news
Sector news : Oil & Gas Refining and Marketing - NEC
06/22 Canada's Cenovus facing tough market for critical asset sales
06/22 CHINA PETROLEUM & CHEMICAL : Looming Chinese refinery cuts to hit oil demand
06/21 Faroe Islands looks to restart hunt for oil and gas
06/21 Norway offers record number of blocks for Arctic oil exploration
06/20 BP : Tullow Oil names Les Wood as finance chief
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
06/23 What Exxon Mobil Needs To Cover Dividend And Invest In Growth
06/23 Exxon Mobil Stock Will Sell Off Due To Lower Oil Prices
06/22 Exxon Mobil - A High-Yield Dividend Aristocrat Trading Near A 52-Week Low
06/22 Crude Oil Price Drop Should Be A Temporary Dip
06/22 Exxon Mobil's Microalgae Breakthrough Is A Potential Game Changer
Advertisement
Financials ($)
Sales 2017 277 451 M
EBIT 2017 22 934 M
Net income 2017 16 743 M
Debt 2017 36 361 M
Yield 2017 3,75%
P/E ratio 2017 20,73
P/E ratio 2018 17,81
EV / Sales 2017 1,38x
EV / Sales 2018 1,28x
Capitalization 345 803 M
More Financials
Chart EXXON MOBIL CORPORATION
Duration : Period :
Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | 4-Traders
Full-screen chart
Technical analysis trends EXXON MOBIL CORPO...
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 87,1 $
Spread / Average Target 6,8%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Darren W. Woods Chairman, President & Chief Executive Officer
Andrew P. Swiger Chief Financial Officer & Senior VP
Michael J. Boskin Independent Director
Samuel J. Palmisano Independent Director
Steven S. Reinemund Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
EXXON MOBIL CORPORATIO..-9.58%345 803
BP-10.45%114 295
CHINA PETROLEUM & CHEM..10.35%104 244
SAUDI BASIC INDUSTRIES..--.--%81 593
RELIANCE INDUSTRIES LI..32.52%72 408
SUNCOR ENERGY INC.-13.13%48 499
More Results