Energy major Shell forecasts growing demand for LNG as a transition fuel for a lower-carbon economy at a time when gas prices have crashed as a glut of product hits a weak market.
In Shell's LNG Outlook 2020, director of integrated gas and new energies Maarten Wetselaar said: “While we see weak market conditions today due to record new supply coming in, two successive mild winters and the Coronavirus situation, we expect equilibrium to return, driven by a combination of continued demand growth and reduction in new supply coming on-stream until the mid-2020s.”
