Exxon Just Set a Bold 2030 Target for LNG Sales. Here's What 50 Million Tons Actually Means.

ExxonMobil (NYSE:XOM) recently raised its annual sales target for liquefied natural gas (LNG) to 50 million tons by 2030. That's double the company's current production volume. This bold goal is up from its previous target of boosting its global LNG output to 40 million tons per year by 2030.

Here's a look at ExxonMobil's ambitious goal of growing its global LNG volumes.

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Exxon is a major player in LNG

Global LNG sales totaled 422 million tons in 2025, according to Shell (NYSE:SHEL). That implies Exxon has about a 6% share of the global LNG market. It has a globally diversified portfolio. Its investments include Golden Pass LNG (U.S.), PNG LNG and Papua LNG (Papua New Guinea), Coral South Floating LNG (Mozambique), Gorgan LNG (Australia), and North Field East (Qatar).

Exxon's LNG business has experienced some headwinds and tailwinds this year. The closure of the Strait of Hormuz has impacted LNG flows from Qatar. Additionally, two of Exxon's minority-owned LNG trains in Qatar were damaged by Iranian attacks earlier this year and will be out of commission for a few years for repairs. However, the company and QatarEnergy also began production at their Golden Pass facility in the U.S. earlier this year, which will help offset some of that impact.

Growing its LNG business

Shell expects global LNG demand to grow 65% by 2050 to nearly 700 million tons per year. While the global LNG giant (Shell controls about 15% of global demand) expects LNG sales to be flat to down this year due to the closure of the Strait of Hormuz, it anticipates they'll resume their upward trajectory in 2027. Meanwhile, Exxon is even more bullish. It sees global LNG demand rising to 500 million tons by 2030 and doubling by 2050. This outlook suggests it would control 10% of the LNG market by 2030.

Exxon has been investing heavily to expand its LNG business. It's one of the company's three core upstream growth drivers (along with the Permian Basin and Guyana) that remain vital to its 2030 plan. Its current LNG projects include Golden Pass (which should reach full capacity next year) and the North Field Expansion project in Qatar. It also plans to launch new project start-ups in Papua New Guinea and Mozambique, though they likely won't start producing until after 2030. Given that Exxon is boosting its LNG growth target without announcing any new projects, it suggests that the company plans to accelerate one of those projects, expand other facilities, or acquire additional LNG capacity to reach its more ambitious 2030 target.

A bold goal

Exxon wants to double its LNG business by 2030, which would give it a 10% share of that growing global energy market. The company hasn't yet laid out exactly how it plans to reach that more ambitious goal, which is something investors should monitor. However, achieving this bold goal would put the company in an even stronger position to meet its targets of delivering $25 billion in earnings growth and $35 billion in cash flow growth by 2030, positioning it to create significant shareholder value in the coming years.

Matt DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.