So as youll see from the table there, the continuing demand for oil and gas is concentrated in three
sectors. Power generation, commercial transportation and industrial. IPCC projects that these three sectors will account for about 80% of demand, similar levels to today. These are also known as very difficult or challenging to decarbonize sectors
and require technology investments in innovation. ExxonMobil is focusing on scalable decarbonization solutions for each of these sectors, leveraging our decades of operating commercial experience, engineering capabilities and core science
competencies. Reducing emissions will require further innovation, and ExxonMobil plans to continue to research and technologies to address challenges in each sector.
Lets start with power generation. In power generation, we are working actively with their customers for that, provide them with natural gas that
produces up to 60% fewer emissions than coal, implementing cogeneration projects and supplying lubricants for wind turbines. We believe natural gas will play a key role in reducing greenhouse gas emissions in emerging markets and also supplement the
intermittency of renewables. We are also the second largest buyer of wind and solar power in the oil and gas industry, and among the top 5% across all corporations, purchasing roughly 600 megawatts. In commercial transport we develop fuels and
lubricants to improve fuel efficiency, biofuels and lightweight plastics. In industrial were developing new materials to lower emissions footprint, energy efficient process redesigns, and carbon capture technology. Today, ExxonMobil is the
worlds leader in carbon capture, responsible for more than 40% of all the CO2 ever captured. ExxonMobil was the first company in the world capture more than 120,000,000 tons of CO2, which is equivalent to an annual emissions of more than
25 million cars. Our ongoing research includes a focus on lower cost hydrogen, another carbon capture solutions. We recently established the ExxonMobil Low Carbon solutions business. This new business will initially focus on CCS, but will
progress commercialization of other lower emission technologies as they mature. Moving on to the next slide.
So kind of bringing this back to the point
that I made on the previous slide about natural gas and you know developing markets to switch over to a cleaner fuel. Were working closely with our customers to help them switch to natural gas and under, also underpin their economic growth.
Our efforts are again by, underpinned by our long term views, and we view gas and LNG playing an important role in beating the dual challenge needs for Asia, including Southeast Asia. Asia Pacific will account for half of the global gas demand
growth between 2017 and 2040. Even with this tremendous growth, in 2040, Asia Pacific remains to reason with the lowest penetration of gas in this primary energy mix. We project China will account for 65% of this growth. And then Southeast Asia
India together account for more than 25% of the growth. Electricity industrial sectors, as you see from that chart in the middle, are projected to make a large portion of this demand driven by economic growth. Much of the demand will need to be met
by LNG, as you see from the chart on the far right. 80% of the imported gas supply in Asia is expected to be through LNG by 2025.
To enable the desire
for cleaner energy, for economic development, suppliers, project developers, host governments and consumers will need to work closely together to enable a cost efficient and sustainable LNG value chain. As we all know and as well spoken by the
previous presenters: new and emerging LNG markets will require further investments in infrastructure and policy support. There isnt a
one-size-fits-all solution, and the needs of our customers are diverse in nature. At ExxonMobil, our aim is to work closely with
our partners, customers and host governments to deliver reliable LNG with tailored solutions to meet that energy dual challenge.
So in closing, at
ExxonMobil, we appreciate the dual challenge our society faces today. Meeting the goals of the Paris Agreement will require combined effort from industry, governments and academia. We are actively investing in decarbonization solutions, underpinned
by our technology and science that has the potential to be deployed with scale. We also believe that our customers in emerging LNG markets can benefit from the consumption of gas versus coal. And we are willing to work on value chain solutions that
are tailored to meet the needs of our customers.