According to mining company Royal Dutch Shell, we can expect global demand for liquefied natural gas to rise to twice current levels by 2040. Asia, led by China and India in particular, will be the engine of growth.
Last year, global demand for liquefied natural gas reached 360 million tonnes, slightly higher than in 2019. According to the outlook of the mining company Royal Dutch Shell, demand for this raw material could rise to 700 million tonnes within 20 years.
Asia is forecast to be the biggest driver of demand, with up to three-quarters of global growth forecast. This will be mainly due to the fact that domestic supply in these countries will decrease, as well as to the fact that both countries will use LNG to try to replace energy sources with high carbon dioxide emissions.
China wants to be a carbon-neutral country by 2060, which it estimates will not be able to do without liquefied natural gas. For similar reasons, LNG demand in India can also be expected to increase. The world’s second-most populous country increased LNG imports by 11 percent last year as it sought to take advantage of extremely low raw material prices in the global market.