ExxonMobil exec: US natural gas demand for power to nearly double by 2040

ExxonMobil Gas & Power Marketing Brian Sellers Platts natural gas

An ExxonMobil Gas & Power Marketing Co. executive said the demand for natural gas for power generation in the U.S. would nearly double to around 40 Bcf/d, according to a report from Platts.

Brian Sellers, manager of Americas business analytics for ExxonMobil Gas & Power Marketing Co., made the projection Tuesday at the LDC Gas Forums Southeast conference in Atlanta, according to the report. He added that power will account for half the growth in natural gas consumption and represent 50 percent of overall natural gas demand by 2040, according to Platts.

Sellers said industrial demand will equal about 21 Bcf/d by 2040, which would be about 26 percent of the country’s total demand, according to Platts.

Sellers’ projections are higher than projected numbers released earlier this week by the U.S. Energy Information Administration. The EIA projects power generation to consume 9.5 Tcf/y in 2040, which equals about 26 Bcf/d. That would account for a little more than 32 percent of the natural gas demand in the U.S., according to the agency’s predictions.

The EIA also predicts that industrial demand will use the most natural gas in the U.S. by 2040, consuming 10.51 Tcf/y, or about 28.8 Bcf/d. That number would comprise about a little less than 36 percent of the U.S.’s natural gas demand by EIA’s projections.

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