ExxonMobil Chief Touts Q-Max Advantage

Wednesday, July 02, 2008
Rex Tillerson, CEO, Exxon Mobil

Speaking at the 19 World Petroleum Congress in Madrid, Mr. Tillerson outlined the challenge of supplying growing energy needs while minimizing the impact on the environment.

“New energy technologies for energy supply, such as those enabling an increase in world LNG supplies, together with technologies to improve energy efficiency, will be critical in meeting the world’s energy challenge,” Mr. Tillerson said.

“On the supply side, technological breakthroughs in the production and transportation of LNG -- such as ExxonMobil and Qatar Petroleum’s Q-Max technology enabling an 80 percent increase in LNG ship cargo capacity -- are facilitating the development of a global market for cleaner-burning natural gas.

“Not only will a global LNG market help supply increasing energy demand, it will also strengthen global energy security by helping to diversify supplies. And because it is cleaner-burning than other conventional sources, natural gas has important environmental advantages as well.

"Partnerships, such as the one between Qatar and ExxonMobil, are making LNG’s potential a reality," said Mr. Tillerson. "Technological advances, pioneered with Qatar Petroleum and others, have enabled ExxonMobil to achieve new economies of scale for development of the North Field, the largest non-associated natural-gas field in the world."

Mr. Tillerson outlined a project led by ExxonMobil, Qatar Terminal Limited and Edison -- the Adriatic LNG terminal -- which is a key component of plans to bring new LNG supplies to market.

Adriatic LNG will be the first offshore gravity-based re-gasification terminal in the world, and will have the capacity to provide 10 percent of Europe’s LNG supply. Construction is nearing completion and the terminal is scheduled to be moved to location in the Adriatic Sea offshore Italy in August. In addition to projects in Qatar and the Adriatic LNG project, ExxonMobil is also participating in the development of a number of other LNG projects around the world.

In his speech, Mr. Tillerson also outlined the role consumers of energy have to play in meeting the energy challenge from the demand side.

Energy efficiency extends the life of the world’s resource endowment, reduces greenhouse-gas emissions, helps drive down energy prices -- and strengthens energy security,” Mr. Tillerson said.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People in the News

USCG Assist Duck Hunters Near Harrington Beach Park

The Coast Guard and the Port Washington and Cedar Grove Fire Departments came to the assistance of two duck hunters on Lake Michigan Friday. The names of those involved are not being released.

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1223 sec (8 req/sec)