SEATTLE (Oil Monster): Shell plc. noted that the share of the U.S. in global liquefied natural gas (LNG) trade is seen regaining momentum. The country is likely to account for around one-third of the worldwide trade by 2025, it added.
The U.S. sales recorded decline last year, following pause by the Joe Biden administration on decisions allowing LNG exports to countries with no free-trade agreements with the U.S. However, the decision has now been withdrawn by President Donald Trump, shortly after taking office for his second term.
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According to projections by the British energy giant, the U.S. is expected to emerge as the world’s leading LNG exporter, with exports likely to touch 180 million tonnes a year by the end of the current decade. Also, the U.S. along with Qatar will account for nearly 60% of the global LNG supply by 2035, it added.
The global LNG trade recorded marginal growth by 2 million metric tons to 407 million metric tons during the previous year, Shell noted. This was the lowest annual increase in more than a decade. The limited increase was mainly due to constrained new supplies during the year.
However, according to industry projections, by 2040, the world's LNG demand is expected to reach 630–718 million tons annually. An estimated 170 million tonnes of fresh LNG supplies are expected to become available by 2030.
According to Shell's senior vice president for LNG marketing and trade, Tom Summers, LNG will remain a preferred fuel in the years to come.
