Global demand for LNG is estimated to increase by more than 50% by 2040 as industries’ switch from coal to gas accelerates in China and South Asia, Shell’s latest LNG outlook report said. According to Shell’s latest estimates, global LNG trade reached 404mt in 2023, up from 397mt in 2022, with LNG demand expected to reach around 625–685mt a year in 2040. “China is likely to dominate LNG demand growth this decade as its industry seeks to cut carbon emissions by switching from coal to gas,” said Steve Hill, executive vice-president for Shell Energy. In the next ten years, the report said that the decrease in local gas ... (full story)