It is estimated that the global demand for liquefied natural gas will increase by 60% by 2040 due to the rapid economic growth in Asia and the race to decarbonize the industry, a Shell analysis shows, FT. «The global trade with the GNL will increase significantly by 2040, supported by the Asian economic growth, the need to decarbonize the heavy industry, as well as transport,» the company said. Shell is the largest GNL trader in the world, selling about 60 million tonnes each year. GNL, the natural gas that is liquefied by cooling at minus 162 degrees Celsius, has become more important since the beginning of the invasion in Ukraine. Shell said that Europe will «continue to need GNL until 2040 to balance the share of renewable sources in the energy sector and to ensure energy security.» The European countries, especially Germany, have invested massively in GNL import infrastructures during the energy crisis triggered by the Ukraine war.
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