New US LNG Supply Will Take Time To Start, Exxon Says
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New supplies of liquefied natural gas take time to develop, and significant new capacity will only start kicking in over the coming years, a senior Exxon Mobil Corp. executive said.
Demand for LNG is rising as Europe turns to the fuel to help plug gaps after losing the supply of Russian gas piped through Ukraine. Exxon has four LNG projects under development and expects to start commissioning the production units in the US and Qatar first, by the end of this year. Other US export projects will also start ramping up production but the bulk of new supply won’t arrive until 2027.