Shell launches LNG outlook
Feb 20, 2017
China and India are two of the world’s fastest growing buyers of liquefied natural gas (LNG) with the total number of importing countries now at 35, according to Shell’s first LNG Outlook, which draws on independent industry data and internal analysis.
Global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year. This included an increase in net LNG imports of 17 MT.
Many expected a strong increase in new LNG supplies would outpace demand growth during 2016. Instead, demand growth kept pace with supply as greater than expected demand in Asia and the Middle East absorbed the increase in supply from Australia, according to Shell’s first LNG Outlook.
“Global LNG trade demonstrated its flexibility time and again in 2016, responding to shortfalls in national and regional gas supply and to new emerging demand,” said Maarten Wetselaar, Integrated Gas and New Energies Director at Shell. “The outlook for LNG demand is set to grow at twice the rate of gas demand, at 4 to 5% a year between 2015 and 2030.”
Read the full LNG Outlook at www.shell.com/lngoutlook
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