London (AFP) – British energy group Shell predicted on Wednesday that global demand for liquefied natural gas will surge by more than 50% by 2040 due to China's coal dumping.
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“Demand for natural gas has already peaked in some regions, but continues to rise globally, with the latest industry estimates suggesting LNG demand will rise by 2040,” Shell said in the report. It is expected to reach around 625 million to 685 million tons per year in 2019.
Global LNG demand will continue to grow beyond that date “driven by industrial demand in China and economic development in South and Southeast Asia,” the energy giant added.
Shell Energy executive vice president Steve Hill said China is likely to dominate LNG demand growth over the next decade “as the industry looks to reduce carbon emissions by switching from coal to gas.” Stated.
Although LNG is cleaner than coal, it also produces greenhouse gases that contribute to global warming.
Industry and many governments argue that LNG is a “bridge fuel” between coal and renewable energy such as wind and solar.
“Gas is one of the world's biggest sources of carbon emissions, with China's coal-based steel sector accounting for more emissions than the UK, Germany and Turkey combined,” Hill said on Wednesday. “We have an important role to play in addressing the issue of local carbon sources.” Air pollution”.
Global LNG trade reached 404 million tonnes last year, up from 397 million tonnes in 2022, Shell said.
Despite the slight increase due to supply tightness, the company said: “LNG will continue to play a key role in Europe's energy security in 2023, following a slump in pipeline exports from Russia to Europe a year ago. ” he said.
Last year, gas prices retreated from record highs set in response to Russia's invasion of Ukraine.
“However, gas prices and volatility in 2023 are still significantly higher than in the 2017-2020 period,” Shell added.
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