Global demand for gas is expected to increase by 2% a year between 2015 and 2030
Global demand for gas is expected to increase by 2% a year between 2015 and 2030, with LNG set to rise at twice that rate at 4 to 5%, according to Shell’s first-ever LNG outlook report. By 2020, the size of global LNG trade is projected to grow 50% compared to volumes in 2014. The report also noted that China and India, which are set to continue driving a rise in demand, were two of the fastest-growing buyers in 2016, increasing their imports by a combined 11.9 mn tonnes of LNG. Egypt was one of six new importing countries that have bolstered global demand for LNG since 2015. Others include Colombia, Jamaica, Jordan, Pakistan, and Poland. Egypt, Jordan, and Pakistan were among the fastest-growing LNG importers in the world in 2016. Due to local shortages in gas supplies, they imported a total of 13.9 mn tonnes of LNG. Egypt should see a significant reduction in imports and a return to exporting by 2018 after the Zohr supergiant field comes into production late this year. You can hit the landing page for the report here, catch an overview of the report (pdf), or check out slides or an infographic.