ExxonMobil (XOM +1.90%) is a global leader in LNG. The oil and gas giant holds interests in several LNG projects worldwide that produce 23 million tons per year. Notable investments include ownership interests in Gorgon LNG and PNG in Papua New Guinea, as well as several LNG trains in Qatar.
LNG is one of ExxonMobil’s four strategic investment focus areas. The company is investing in several projects to expand its global capacity to 27 MTPA. One notable investment is the more than $10 billion Golden Pass LNG project in the U.S. The joint venture with QatarEnergy will have the capacity to export about 18 million tons of LNG per year. It started shipping LNG in April 2026, becoming the 9th U.S. LNG export terminal.
ExxonMobil is also working with QatarEnergy, Shell, ConocoPhillips, TotalEnergies, and others to expand Qatar's North Field. The two-phase expansion will feature six LNG trains, increasing capacity from 77 MTPA to 126 MTPA by 2027. The first phase will cost an estimated $30 billion. Meanwhile, in late 2025, the company's partner in Australia's Gorgon project, Chevron (CVX +1.43%), approved the $2 billion Gorgon Stage 3 project. It also joined ConocoPhillips in signing a gas supply deal to support the Alaska LNG project.
These investments will enable the oil giant to achieve its bold goal of roughly doubling its LNG business to 40 million tons per year by 2030. Meanwhile, Exxon expects new LNG project start-ups in Papua New Guinea and Mozambique to fuel growth beyond 2030. The company and its partners expect to make a Final Investment Decision on the $30 billion Rovuma LNG project in Mozambique by the end of 2026. It also expects to approve its Papua project by the end of the year.
4. Shell