ExxonMobil expects annual LNG sales to reach 50 million tons by 2030.

Exxon Mobil has raised its liquefied natural gas sales forecast, betting on sustained long-term demand in Asia and other regions, even as the Middle East war prompts some countries to reconsider their reliance on the fuel. Peter Clarke, senior vice president of LNG at Exxon Mobil International, said in an interview on the sidelines of the International Gas Technology Conference in Bangkok that the company expects its annual LNG sales to reach 50 million tons by 2030 and continue to climb after 2030 as the market grows. The previous target was 40 million tons per year by 2030. The upward revision comes as the U.S.-Iran conflict has constrained LNG shipping routes through the Strait of Hormuz. Before the conflict, about one-fifth of global LNG supply came from the Persian Gulf region, and that supply is now disrupted. The shortage has pushed natural gas prices to multi-year highs.