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Royal Dutch Shell recently said that more than $200 billion in LNG investment is needed by 2030 to meet the projected demand growth
.
According to Shell's annual LNG outlook, global LNG demand grew by 29 million metric tons to 293 million metric tons
in 2017.
According to Shell, annual demand is expected to reach 500 million metric tons
by 2030.
Based on current demand forecasts, Shell, the world's largest LNG trader, sees the possibility of a supply shortage in mid-2020 unless new LNG production project commitments are imminent
.
"As spending in the sector has declined since 2014 due to the collapse in energy prices, a supply gap is expected to occur in the mid-2020s, barring new investment
," the report said.
”
However, while LNG demand is expected to increase from 293 million tonnes in 2017 to around 500 million tonnes in 2030, supply has fallen to 300 million tonnes
due to a lack of new projects and a natural decline in existing capacity.
According to data published by Shell, the cost of developing the required capacity is about $1 billion
per million metric tons.
This does not include investment in the development of gas fields
related to LNG plants.
Japan remained the world's largest LNG importer in 2017, while China moved into second place as Chinese imports surged South Korea
.
China's total demand for LNG reached 38 million tons, which is the result of
continued economic growth and policies to reduce local air pollution through coal-to-gas switching.
Royal Dutch Shell recently said that more than $200 billion in LNG investment is needed by 2030 to meet the projected demand growth
.
According to Shell's annual LNG outlook, global LNG demand grew by 29 million metric tons to 293 million metric tons
in 2017.
According to Shell, annual demand is expected to reach 500 million metric tons
by 2030.
Based on current demand forecasts, Shell, the world's largest LNG trader, sees the possibility of a supply shortage in mid-2020 unless new LNG production project commitments are imminent
.
"As spending in the sector has declined since 2014 due to the collapse in energy prices, a supply gap is expected to occur in the mid-2020s, barring new investment
," the report said.
”
However, while LNG demand is expected to increase from 293 million tonnes in 2017 to around 500 million tonnes in 2030, supply has fallen to 300 million tonnes
due to a lack of new projects and a natural decline in existing capacity.
According to data published by Shell, the cost of developing the required capacity is about $1 billion
per million metric tons.
This does not include investment in the development of gas fields
related to LNG plants.
Japan remained the world's largest LNG importer in 2017, while China moved into second place as Chinese imports surged South Korea
.
China's total demand for LNG reached 38 million tons, which is the result of
continued economic growth and policies to reduce local air pollution through coal-to-gas switching.
