Global demand for liquefied natural gas (LNG) is expected to surge by 50% by 2040, driven by higher demand from Asia, with coal-to-gas switching in China and a boost in LNG consumption to fuel economic growth in South and Southeast Asia, Shell said on Wednesday. Last year, global trade in LNG reached 404 million tons, slightly higher than the 397 million tons in 2022, with tight supplies of LNG constraining growth, Shell, the world’s largest LNG trader, said in its annual Shell LNG Outlook 2024. A milder winter in 2022/2023, high gas…
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