LNG Poised for Global Surge, Driven by China's Growth and Emissions Reduction Efforts
Shell, in its 2024 LNG outlook, predicts a significant global rise in demand for liquefied natural gas (LNG) by 2040. Fueled by China's economic expansion and its shift from coal to gas for emission reduction, LNG demand is expected to jump over 50%.
Global LNG demand projected to increase by more than 50% by 2040, driven by China's economic growth and emission reduction goals.
China, seeking to decarbonize its steel sector, a major source of emissions, is expected to lead LNG demand growth.
Tight LNG supply maintains high prices and volatility, potentially hindering economic growth.
Despite peaking in some regions, global natural gas demand continues to rise, estimated to reach 625-685 million tons per year in 2040.