The terminal, which was expected to start up by yearend, will deliver gas from the RasGas II Train 4 in
Tillerson told reporters at the World Energy Congress that it was a "challenging project" because it will be the first use of a gravity-base structure for an LNG terminal. Five LNG tankers will supply the terminal, which is also known as Isola di Porto Levante.
The terminal will sit in 15 km off northern
While fossil fuels will remain dominant in the energy mix because they are reliable and affordable, Tillerson said, their advantages do not rule out other sources of energy provided they are economic. Through 2030, according to ExxonMobil"s estimates, hydrocarbons will continue to account for about 80% of energy demand; oil and gas alone will account for about 60%.
According to ExxonMobil"s energy outlook, published on Nov. 5, energy demand growth is expected to average 1.3%/year during 2005-30 due to growing economic prosperity, improving living standards in the developing world, and population growth.
Tillerson said, "Sufficient hydrocarbon resources exist to play their role in meeting this growing global demand if industry is allowed to access them. The US Geological Survey, to cite just one authority, estimates that twice the total conventional oil resources consumed in human history to date still remain to be tapped. Unconventional resources are likely to significantly add to this total."
Developing countries are expected to count for the largest spurt in demand growth because of rapid economic and population growth. Tillerson stressed the importance of trading relationships between developed and developing nations, noting that developing countries will also be the new energy suppliers over the next 20 years.
PIN/OGJ.COM
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