A driving force for LNG market expansion

Cleaner source: A file photo of an LNG carrier. China views natural gas as ‘bridge-fuel’ in its transition to less-polluting energy sources. — Reuters

Beijing: Driven by China’s industrial decarbonisation, the global liquefied natural gas (LNG) market will continue to grow into the 2040s, according to a new report.

As industrial coal-to-gas switching gathers pace in China, amid its modest economic recovery, global demand for LNG is estimated to rise by more than 50% by 2040, according to Shell’s LNG Outlook 2024 report.