LNG central to Asian net-zero emissions strategies—Shell
Major consuming countries’ net-zero emissions targets will drive rather than hinder growth, with trade set to double by 2040
LNG trade will double to 700mn t/yr by 2040 as major Asian economies rise to the challenge of meeting net-zero emissions targets announced during 2020, says Shell in its latest annual LNG Outlook, published in late February. Producers will, though, consequently come under increasing pressure “to innovate at every stage of the value chain to lower emissions”. Shell estimates that more than half of future LNG demand will come from countries with net-zero emissions targets, despite gas having a carbon content. Asia is expected to drive three-quarters of this growth as domestic gas production declines in several major economies and as LNG substitutes higher-emissions energy sources, tackling air
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