LNG Demand Expected to Grow to 2040: Shell

LNG demand is expected to grow through to 2040, according to Mehdi Chennoufi, head of global LNG origination and market development at Shell.

• The outlook for LNG is cemented by the rising costs of renewable energy projects and growth in energy consumption in developing nations.
• Declining domestic gas output in some countries will boost LNG requirements for power generation. Gas supplies are increasingly likely to be used in place of coal by industrial consumers amid efforts to curb emissions, he said.
• LNG can also win a larger role as a transport fuel, he added.
• “The view is that this demand will continue to show up and grow.”
• Global LNG demand may rise by more than 50% by 2040 according to Shell’s global LNG outlook earlier this year.