ExxonMobil shifts gas funds away from Middle East
ExxonMobil has announced that it is working to diversify sources of natural gas liquefaction outside the Middle East to strengthen the resilience of supply chains across different regions, while maintaining its presence in the area which remains a key region for global gas markets. The company is focusing on balancing the expansion of its investments in gas projects outside the Gulf with maintaining opportunities in the Middle East, as its Mozambique gas project advances and a similar project is expected to be approved in Papua New Guinea. The CEO confirmed that the concept of energy security is no longer limited to withdrawing from the Middle East but now involves enhancing geographic diversification of supplies to support stability and reduce exposure to marine and regional conflicts.
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