Global LNG demand will double to 700 million tonnes by 2040

Royal Dutch Shell said recently that global demand for liquefied natural gas (LNG) will double to 700 million tons by 2040, and natural gas will continue to play a key role
in low-carbon energy systems.

In 2019, global LNG demand grew by 12.
5% to 359 million tonnes
.
Asia is expected to remain the dominant region in the coming decades, with South and Southeast Asia accounting for more than
half of demand growth, the report said.

Maarten Wetselaar, Director of Integrated Gas and New Energy at Shell, said: "The global LNG market continued to evolve in 2019, with increasing demand for LNG and gas from the power and non-power sectors
.

Record supply investments will meet the growing demand
for the most flexible and clean-burning fossil fuels.
”

When used to generate electricity, greenhouse gas emissions from natural gas are reduced by 45 to 55 percent, or even less than one-tenth
of coal's air pollutants.

Last year, a record 40 million tonnes of additional supply was available on the market, and investment in liquefaction capacity reached a record 71 million tonnes
.

Europe's imports increased by 74 per cent because in the power sector, natural gas combustion is more competitive
than coal.
Global LNG prices have fallen to record lows this winter amid ample supplies due to mild weather and the outbreak of coronavirus in China
.

Wetselaar added: "Although today we are seeing a weak market environment due to new supply records, two consecutive warm winters and the coronavirus situation, we hope the balance will return
.
This will be driven
by a combination of continued demand growth and reduced new supply until the mid-2020s.
”

In China, LNG imports rose 14 percent
last year amid efforts to improve air quality.
In addition, LNG imports from Bangladesh, India and Pakistan also increased
.