ExxonMobil (XOM -4.00%) 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, aiming to grow 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, with production expected to start in early 2026.
ExxonMobil is also working with QatarEnergy, Shell, ConocoPhillips, TotalEnergies, and others to expand the North Field in Qatar. 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 -3.84%), approved the $2 billion Gorgon Stage 3 project.
These investments will enable the oil giant to achieve its bold goal of roughly doubling the size of its LNG business to around 40 million tons per year by 2030.
4. Shell