Karachi: Shell’s LNG Outlook 2024 predicts a 50% increase in global demand for liquefied natural gas by 2040.
The forecast is based on China’s rapid transition from industrial coal to gas and the increasing use of LNG by South and East Asian countries to boost their economic growth.
According to the Shell LNG Outlook, global LNG trade has reached 404 million tonnes in 2023, up from 397 million tonnes in 2022.
According to the latest industry estimates, LNG demand is expected to reach 685-625 million tonnes per annum by 2040.
Shell Energy Executive Vice President Steve Hill says China is likely to dominate LNG demand growth this decade.
