AFP is reporting a forecast by Shell that world demand for liquefied natural gas will jump 50% by 2040, and it’s fueled by China dumping coal. They write:
British energy group Shell on Wednesday forecast that world demand for liquefied natural gas would jump more than 50 percent by 2040, fuelled by China dumping coal.
“Demand for natural gas has already peaked in some regions but continues to rise globally, with LNG demand expected to reach around 625-685 million tonnes a year in 2040, according to the latest industry estimates,” Shell said in a report.
Global LNG demand would grow beyond that date, “driven by industrial demand in China and economic development in South Asia and South-east Asia”, the energy major added. […]
Last year saw gas prices retreat from record highs set in the wake of Russia’s invasion of Ukraine.
“However, gas prices and volatility remained significantly higher in 2023 than in the 2017-2020 period,” Shell added.
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