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02 25, 2013 by Houma Courier
The Louisiana Mid-Continent Oil and Gas Association marked its 90th anniversary this past week with its annual meeting at the Ritz Carlton in New Orleans.
It is the oldest state trade association and the only entity exclusively representing all sectors of the oil and gas industry in Louisiana and the Gulf of Mexico.
During the two-day meeting, Clay Vaughn, ExxonMobil’s deepwater vice president, discussed the details of a report from his company predicting that global energy demand will grow 35 percent over the next 27 years, even with efficiency gains.
“That’s a significant number, and it will require significant investments in technology and infrastructure,” Vaughn said. “ExxonMobil forecasts show that in 2040, oil will remain the most widely used fuel worldwide, while natural gas will overtake coal for the number-two spot.”
Vaughn said demand for natural gas will rise by about 65 percent through 2040, and 20 percent of global production will occur in North America, supported by growing supplies of gas from shale and other unconventional sources.
Founded in 1923, the association represents exploration, production, refining, transportation, marketing and mid-stream companies as well as other firms in the fields of law, engineering, environment, financing and government relations.
Association President Chris John said there is a good deal of history to build upon, but the future offers new opportunities, too.
“We look forward to the next 90 years, as we remain committed to promoting and representing all of our members and their quest in fueling our future,” he said.
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