Global demand for liquefied natural gas is estimated to rise by around 60% by 2040, driven largely by economic growth in Asia, AI impact and efforts to cut emissions in heavy industries and transportation,

The oil company cited strong interest in Asia for the supercooled gas as Sempra outlined plans to export gas from Texas.

Global demand in LNG will increase to 630mn-718mn tonnes by 2040, from 407mn tonnes last year, Shell said. Last year’s outlook pegged the demand at 625mn-685mn tonnes. More than 170mn tonnes of new LNG supply is expected to come online by 2030 to meet the rising demand, Shell added.

The company detailed that China shipped in 79m tonnes of LNG in 2024, as it cashed in on lower prices, while India imported a record 27m tonnes, up 20% on 2023’s figure to help meet stronger power demand in the hotter summer conditions.

Global demand for liquefied natural gas is estimated to rise by around 60% by 2040, driven largely by economic growth in Asia,

Economic growth in Asia, emissions reductions across heavy industry and transport and the impact of artificial intelligence are set to drive future demand, the UK major said in the latest edition of i

Global demand for liquefied natural gas is forecast to rise by 60% by 2040, driven largely by economic growth in Asia, the impact of artificial intelligence, and efforts to cut emissions in heavy industries and transportation,

LONDON/SINGAPORE (Reuters) - Global demand for liquefied natural gas is estimated to rise by around 60% by 2040, driven largely by economic growth in Asia, AI impact and efforts to cut emissions in heavy industries and transportation, Shell said in an annual report on Tuesday.

Industry forecasts now anticipate LNG demand to reach 630-718 million tons/year by 2040, reflecting an upward revision from previous estimates.

Global LNG demand is projected to surge by 60% through 2040, primarily driven by Asia's economic growth, industrial decarbonization, and the increasing power demands of artificial intelligence.