Global LNG demand could grow to 630-718 million tonnes per year by 2040, Shell said in its annual LNG market report. The company raised its forecast from a previous estimate of 625-685 million tonnes.
“By 2040, industry forecasts show that demand for liquefied natural gas will reach 630-718 million tonnes per year, compared to last year“s forecast,“ the report said.
Total global LNG trade in 2024 rose to 407 million tonnes from 404 million tonnes a year earlier, the lowest annual increase in 10 years. This development is due to the limited volume of new deliveries in the market, Shell believes.