Shell’s CEO Wael Sawan at the Energy Asia conference in Kuala Lumpur last year
Letter from London: Shell’s unshakeable faith in LNG
Oil and gas major unconcerned by potential supply glut as it bets on growing demand in transport and other sectors, and on the fuel’s long-term role as a ‘stabilising force’ for future energy systems
Projections of an imminent global LNG supply glut have not rattled Shell’s CEO, Wael Sawan. In fact, he reckons a sustained period of lower prices would be “terrific” for the fuel’s longer-term demand prospects in sectors such as transport and maritime. Softer prices would also help to restore the confidence of some LNG consumers that were spooked by price spikes in the wake of Russia’s invasion of Ukraine, Sawan told the International Energy Week conference in London in mid February. “LNG is a cornerstone of resilience for so many nations” Sawan, Shell “You might get to a point in time where there is ample LNG in the market. That would be terrific,” Sawan said. “If you can get plent
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6 March 2026
The March 2026 issue of Petroleum Economist is out now!
6 March 2026
After Europe’s rapid buildout of floating LNG import capacity, Exmar CEO Carl-Antoine Saverys says future growth in floating gas infrastructure will increasingly be driven by developing markets as lower prices, rising energy demand and the need to replace coal unlock new opportunities for unconventional and tailor-made solutions
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
