Overview
- Shell published its LNG Outlook 2026 on June 30, 2026, projecting global LNG demand will climb about 65% to nearly 700 million tonnes per year by 2050.
- The report links the recent Middle East conflict to shipping disruptions through the Strait of Hormuz that temporarily removed roughly one-fifth of monthly global LNG supply and pushed Asian spot prices above $20 per MMBtu.
- Shell credits a ramp-up of North American liquefaction, stronger performance at existing plants, and a larger share of long-term contracts for cushioning the market shock and says total 2026 trade could stay near 2025 levels if Hormuz shipping normalizes this summer.
- The company expects about 180 million tonnes per year of new liquefaction to come online by 2030 but warns an additional roughly 200 million tonnes per year of new capacity and expanded regasification and pipeline links will be needed through the 2030s and 2040s to meet demand.
- Shell forecasts regional and new uses will drive growth, with South and Southeast Asia taking about 40% of imports by 2050 and LNG bunkering and data-center power demand rising sharply in the coming decade.