Defiant Shell remains bullish on LNG
Amid the gloom and doom of a supply glut and record low prices, the major, which controls more than one-fifth of the global LNG market, sees a bright future
Shell yesterday shrugged off concerns about the future of natural gas in a decarbonising world economy, forecasting that “as policy meets reality” global LNG trade will double to 700mn t/yr by 2040. It believes that demand for gas will grow by 2pc/yr driven by growing populations, rising energy demand, increasing urbanisation and the need to cut carbon emissions and improve air quality—and that 40pc of this projected growth over the next two decades will be supplied as LNG. Launching Shell’s annual LNG Outlook in London, Maarten Wetselaar, director of integrated gas and new energies, says the forecast—despite being bullish—holds significant upside. This is because it assumes that China and I
Also in this section
25 March 2025
Cote d’Ivoire’s ambitions to become a major regional producer have gained renewed momentum, with established players and new entrants striking upstream deals and committing to long-term investment
24 March 2025
Indian E&P company wants to take domestic production to a new horizon, given the amount of unexplored opportunities
21 March 2025
Two recent developments raise the prospect of a revival in northern Iraqi oil and gas fortunes, but familiar obstacles could thwart momentum
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
