Citing the United States’ “very vast supply of natural gas,” EOG Resources Inc. CEO Ezra Yacob said “it’s important that we get that gas offshore and into the global market” for geopolitical reasons and to support developing countries’ economic growth.

Shell plc has projected a 90% increase in global liquefied natural gas (LNG) demand by 2040. Even before Russia invaded Ukraine, tightening gas supply options, demand for LNG from the United States was strong.

During a call with analysts to discuss fourth quarter and full-year 2021 earnings, Yacob said EOG’s mindset on natural gas globally is “it’s going to be…cost of supply. And we say that we want to be the low-cost producer, and that might sound like we’re talking about oil dominantly, but that goes for...