At the right “price point,” global demand for natural gas will continue to expand, Shell plc CEO Wael Sawan said Monday. 

On the opening day of CERAWeek by S&P Global in Houston, Sawan told the industry audience that the transition to become a net-zero producer remains a goal by 2050. However,  alternatives remain too expensive and cannot quickly replace existing infrastructure. In addition, the world’s thirst for energy is climbing every year.

“This is going to be a multi-dimensional system of the future, and oil and gas will continue to have control in stabilizing that system for a long while,” Sawan said. “If we are to deal with the energy challenge of climate change, we need to make real progress in scaling up and building profitable business...