LNG production increases despite pandemic uncertainty
Global liquefied natural gas (LNG) trade increased to 360 million tonnes in 2020, according to Shell’s latest annual figures.
The oil and gas company said this was despite the unprecedented volatility caused by the COVID-19 pandemic that resulted in lockdowns around the world.
Demand in 2019 stood at 358 million tonnes.
Global LNG prices hit a record low early in the year, but ended the 12-month period at a six-year high as demand in parts of Asia recovered and winter buying increased against tightened supply.
“LNG provided flexible energy which the world needed during the COVID-19 pandemic, demonstrating its resilience and ability to power people’s lives in these unprecedented times,” said Maarten Wetselaar, integrated gas, renewables and energy solutions director at Shell.
“Around the world countries and companies, including Shell, are adopting net-zero emissions targets and seeking to create lower-carbon energy systems. As the cleanest-burning fossil fuel, natural gas and LNG have a central role to play in delivering the energy the world needs and helping power progress towards these targets.”
Natural gas emits between...
The oil and gas company said this was despite the unprecedented volatility caused by the COVID-19 pandemic that resulted in lockdowns around the world.
Demand in 2019 stood at 358 million tonnes.
Global LNG prices hit a record low early in the year, but ended the 12-month period at a six-year high as demand in parts of Asia recovered and winter buying increased against tightened supply.
“LNG provided flexible energy which the world needed during the COVID-19 pandemic, demonstrating its resilience and ability to power people’s lives in these unprecedented times,” said Maarten Wetselaar, integrated gas, renewables and energy solutions director at Shell.
“Around the world countries and companies, including Shell, are adopting net-zero emissions targets and seeking to create lower-carbon energy systems. As the cleanest-burning fossil fuel, natural gas and LNG have a central role to play in delivering the energy the world needs and helping power progress towards these targets.”
Natural gas emits between...
