This was said by ExxonMobil senior vice-president Peter Clarke when he addressed an energy conference Port Moresby this month, reported by The National newspaper.

 

"PNG has the potential of supporting the demand for energy supplied by gas and has already done so throughout the Asia-Pacific region," he said.

 

"It is estimated that the country could be supplying 2 per cent of the world's demand for sustainable and reliable use of gas by 2030."

 

Clarke told the Petroleum and Energy Conference in Port Moresby that investing in gas in a Third World country such as PNG "not only drives the country's economy, but contributes to the global energy demand for gas from 2030 and beyond".

 

ExxonMobil said the demand for gas compared to its unsustainable and higher carbon footprint counter-parts such as coal and oil was gaining recognition globally, especially in Europe.

 

"This would be largely due to the world's population increasing by 25%, and 15% of the world moving to the sustainable and reliable use of gas," he said.

 

"These factors compounded with the global demand for reliable, easy-to-store and easy-to-supply environmentally sustainable gas to electricity would be used to meet the global need for manufacturing, and electricity supply for commercial businesses and homes."

 

The National reported that Facts Global Energy chairman Fereidun Fesharaki said PNG's LNG resource sector provided some of the most valuable gas resources in the world.