- Royal Dutch Shell reports that the market in liquefied natural gas, or LNG, reached 293 million tons in 2017, 30 percent higher than expected.
- Despite the growth, Shell warns that the market could face a shortage of LNG by the mid-2020s due to underinvestment in new projects.
- The root of the problem is a mismatch between the types of contracts buyers and sellers prefer, which may delay investments in new LNG capacity, Shell says.
Tom DiChristopher |
Royal Dutch Shell says the world could be grappling with a shortage of liquefied natural gas within a decade due to underinvestment in new projects.
The Anglo-Dutch energy giant issued the warning in its second annual LNG outlook, which reports on developments in the booming market for natural gas cooled to liquid form for export. Shell says the market for LNG grew by 29 million tons last year, 30 percent more than previously expected.
Trading in LNG reached 293 million tons in 2017, up from just 100 million tons at the turn of the century. At nearly 300 million tons, suppliers shipped enough LNG last year to power about 575 million homes, by Shell’s count. read more
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