Spanning Canada and the United States, North America is home to a plethora of major industry players, including Exxon Mobil Corp, the world's second-largest publicly traded company after Royal Dutch Shell. The region's oil and natural gas industry is focused on developing oil sands, deepwater gulf prospects and increasingly profitable shale deposits stretching across the continent. One of the premier sweet spots for deepwater exploration, the Gulf of Mexico is the largest body of water indenting the U.S. continental coastline, and its subsea developments continue to spark both national and international interest.
Liquefied natural gas (LNG) is made from natural gas that undergoes the process of liquefaction where it is converted to liquid, making it feasible to store and transport. It is exported globally via specialized tankers and regasified at receiving terminals for distribution. LNG is used as fuel for power generation, vehicles, and offshore vessels, and can also be used to produce heat for residential use.