Royal Dutch Shell, the oil and gas giant from the Netherlands, projects that global demand for liquefied natural gas (LNG) in 2040 will almost double to 700 million tons.
However, at the end of the year, it can rise to its highest level in six years as demand for LNG in parts of Asia recovers and purchases increase in winter amid tight supplies.
Asia is expected to boost nearly 75% of LNG demand growth by 2040 as domestic gas production declines and LNG replaces energy sources that have high emissions.
In 2020 China and India are leading the way in recovering LNG demand following the outbreak of the Covid-19 pandemic. China increased LNG imports by 7 million tonnes to 67 million tonnes in 2020, or an 11% increase from the previous year.