With large North Slope resources, Alaska has the opportunity to be a major supplier of natural gas to North America, Rich Kruger, president of ExxonMobil (XOM) Production Company, said in a keynote address at the 2010 Meet Alaska Conference in Anchorage.
According to Kruger, Point Thomson, one of Alaska’s largest active North Slope projects in execution phase, seems to be showing a great deal of potential for new jobs and investment in the state. Investments in the project currently are in excess of $1 billion. The project's first well reaches out horizontally from the shore-based rig to a subsurface target nearly two miles offshore.
Kruger said he anticipated global energy demand from all sources to be about 35 percent higher in the year 2030 than it was in 2005. He went on to say that to meet the world’s and America’s energy needs, long-term planning, discipline and commitment would be necessary.
Worldwide, natural gas is expected to be the fastest growing major fuel source. By 2030, demand for natural gas is expected to be 55 percent higher than in 2005. Much of this demand will come from the power-generation sector.