Shell will add 12 million tonnes of LNG capacity to its existing LNG production by 2030

Shell, the largest trader in liquefied gas in the world, plans to add 12 million metric tonnes of capacity from now until the end of this decade, according to a senior executive on Wednesday.

Shell's integrated gas president, Cederic Crémers, told Wood Mackenzie’s Gas, LNG, and the Future of Energy Conference, held in London, that Shell would add up to 12,000,000 tons of (LNG).

"That's not an ambition. "These are all current construction projects," he said.

One project was in Canada, while two others were in Qatar and Nigeria.

Shell, according to analysts, is currently a buyer of approximately 70 million metric tonnes of LNG per year. Shell LNG Marketing and Trading, according to its website, delivered more than 65 million tonnes (or metric tons) of LNG in the past year to over 30 countries around the world.

Cremers stated that Shell is building its capacity to provide customers by acquiring companies such as Pavilion Energy in Singapore which was completed within the first quarter and through contracts with third party suppliers.

He said that 60% of new supplies will come from Qatar and the U.S. by 2030. Demand is primarily from Asia, and sectors that are difficult to electrify.

Shell announced earlier this year that global LNG demand will rise by 60% by 2040. This is largely due to the economic growth of Asia, artificial intelligence and efforts to reduce emissions in heavy industry and transportation. (Reporting and editing by Jan Harvey, Tomasz Janowski).

(source: Reuters)