Shell’s Crystal Ball Predicts a Gas-tastic Future

Posted by John Donovan: 14 Feb 24

Oh, buckle up, earthlings, for a rollercoaster ride into the gas-laden utopia of 2040, brought to you by none other than Shell, the fossil fuel aficionado with a heart of… well, gas. In an earth-shattering revelation that’s sure to make your carbon footprints quiver in excitement, Shell has gazed into their crystal ball (probably powered by LNG, because why not) and declared that the world’s thirst for liquefied natural gas (LNG) is about to skyrocket by more than a whopping 50% by 2040. Why? Because apparently, switching from coal to gas is the new black, especially in China and those trendy South Asian and Southeast Asian countries hungry for economic growth.

In their latest attempt to paint the town green (with LNG, of course), Shell’s “LNG Outlook 2024” spills the beans on this gaseous future. They’ve crunched the numbers, probably in a room lit by the soft glow of burning LNG, to conclude that the global LNG trade will swell up to around 625-685 million tonnes per year, up from a mere 404 million tonnes in 2023.

Steve Hill, Shell’s own executive vice president for Energy (and possibly a wizard in predicting the future of gas), waxes poetic about China’s role in this gas-fueled saga. He says, “China is likely to dominate LNG demand growth this decade as its industry seeks to cut carbon emissions by switching from coal to gas.” That’s right, folks. The country whose coal-based steel sector belches out more emissions than the UK, Germany, and Turkey combined is now on a diet, and gas is its lettuce.

But wait, there’s more! Shell, wearing its bullish cap, foresees this gassy demand reaching heights of 625-685 million tons a year by 2040, a slight backtrack from their previous dreams of over 700 million tons. It seems even in their green-tinted vision, there’s room for a little reality check.

And let’s not forget Europe, the continent still nursing a hangover from its Russian gas binge. Despite a dip in demand, Shell assures us that Europe will still need a hefty 70 million tons per year of spot LNG supply by 2025. Because, you know, old habits die hard.

So there you have it, a peek into a future where LNG reigns supreme, coal gets the cold shoulder, and Shell sits on its throne, overseeing a world gassed up on its predictions. In this gas-tastic future, Shell’s not just blowing smoke; they’re blowing LNG. And they want us all to inhale deeply. Cheers to that, or as they say in the gas world, “Burn baby, burn!”

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