Managing director Andrew Barry said natural gas offered benefits to the economy and environment.
“Despite the current price environment, which may challenge some producers, we believe natural gas, including LNG, has a bright future,” Barry said.
He was addressing the Australia-PNG Business Forum in Cairns, Australia.
“That’s because global energy demand will continue to grow and LNG will play a critical role in meeting the world’s need for energy to fuel development and opportunity,” he said.
“Natural gas offers both economic and environmental benefits.
“It offers an abundant source of energy that is reliable and flexible.
“And because it is a cleaner burning fuel than coal, natural gas can contribute to cleaner air and reduced greenhouse gas emissions.
“As demand for natural gas grows, we expect it will replace coal as the global source of energy.
“Within this picture, the long-term outlook for LNG remains strong. Through 2025, global LNG demand is projected to rise at twice the rate of natural gas in general.”
He said the LNG would meet the world’s need for natural gas.
“The LNG will be essential to meet the world’s growing need for natural gas - particularly in the fast-growing economies of the Asia-Pacific region where LNG demand will grow by over 60 percent in the next decade, accounting for about two-thirds of global demand growth.”