, APAC
Photo by Martin Adams from Unsplash

Global LNG demand to grow 50% by 2050

This will be driven by the increasing demand in China, South Asia, and Southeast Asia.

The global demand for liquefied natural gas (LNG) is expected to grow by over 50% by 2050, boosted by the robust rise of demand in China and the development in South Asia and Southeast Asia.

In a report, Shell said China’s initiatives on transitioning from coal to gas and economic policies in other Asian countries have kept LNG adoption at pace.

With the increase of developments in LNG adoption, China is estimated to lead the energy industry, especially as the market aims to cut carbon emissions in every sector.

The decline in domestic gas production in South Asia and Southeast Asia opened the opportunity for increased LNG demand as markets in the region require gas-fired power plants. However, significant investments would be substantial in gas import infrastructure.

Currently, global trade in LNG has attained 404 million tonnes in 2023, compared to 397 million tonnes in 2022. Demand is anticipated to peak at 625-685 million tonnes a year by 2040.

ALSO READ: JERA, PT PLN unit partner for LNG value chain development

“With China’s coal-based steel sector accounting for more emissions than the total emissions of the UK, Germany and Turkey combined, gas has an essential role to play in tackling one of the world’s biggest sources of carbon emissions and local air pollution,” Steve Hill, Executive Vice President for Shell Energy, said.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

India removes licence requirement to build transmission lines for bulk consumers
The rule applies to those with at least 25 MW of load for inter-state connection and at least 10 MW for intra-state.
NEFIN Group works double time to catch up on projects
CEO Glenn Lim explains how a delay turned out good as the company aims to reach 667 MW of capacity by 2026.
Summit Power International provides vital LNG support to Bangladesh
Without cross-border electricity supply, LNG is needed by a country facing geographical constraints to deploy renewables.