Shell estimates GLOBAL demand for liquefied natural gas is predicted to rise by around 60 per cent by 2040, driven largely by economic growth in Asia, AI impact and efforts to cut emissions in heavy industries and transportation, Shell said in an annual report this week.
Demand for natural gas continues to rise globally as the world transitions to cleaner fuels. Industry forecasts LNG demand to reach between 630 million and 718 million tonnes a year by 2040, Shell said in its 2025 annual LNG outlook.
The latest view from the world’s largest LNG trader is higher than last year’s forecast, which pegged global LNG demand in 2040 at 625 million to 685 million tonnes per year.
“Upgraded forecasts show that the world will need more gas for power generation, heating and cooling, industry and transport to meet development and decarbonisation goals,” said Tom Summers, Shell’s senior vice-president for LNG marketing and trading.
China, the world’s top LNG importer, and India are increasing LNG import capacity and gas related infrastructure to meet rising demand, Shell added.
Natural gas imports into China are forecast to rise this year as economic stimulus plans lift industrial demand, although trade tensions with the US may cap growth.
Full story Shell expects 60% rise in global LNG demand by 2040 as Asia leads growth - The Business Times
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