Shell’s recently released LNG Outlook predicts global LNG demand will “cross 700 million tons a year by 2040,” a 90% increase from 2021, Reuters reports. Additionally, the report predicts that the U.S. will become the world’s biggest LNG exporter in 2022.
The global trade in LNG increased 6% to 380 million tons during 2021 as many countries recovered from the COVID-19 pandemic. Prices reached record highs in October 2021 as European buyers struggled to secure LNG cargoes to meet expected winter gas demand, the Outlook says. Read the entire story.