Worldwide LNG Consumption Forecast to Jump 90% by 2040, Shell Says

Global demand for liquefied natural gas (LNG) is expected to cross 700 million metric tons/year (mmty) by 2040, a 90% increase from 2021 consumption, according to Shell plc.

In Shell’s latest LNG Outlook, the energy major said Asia was expected to consume most of the growth as “domestic gas production declines, regional economies grow and LNG replaces higher-emissions energy sources, helping to tackle concerns over air quality and to help progress toward carbon emissions targets.”

Shell researchers also predicted an LNG “supply-demand gap” will emerge in the mid-2020s. The expected LNG gap “focuses attention on the need for more investment to increase supply and meet rising LNG demand, especially in Asia.”

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