Shell (SHEL.US): LNG demand will surge, oil demand may peak in the next ten years.

Shell (SHEL.US) expects strong growth in global liquefied natural gas (LNG) demand in the coming years, while natural gas demand will grow more slowly, and oil demand may peak in the early next decade. Shell has created three different scenarios to simulate long-term energy security, but stated that these scenarios do not reflect its strategic or business plans. In all three scenarios, LNG shows significant growth in the short term, driven by projects in Qatar and the United States, reaching around 550 million tons per year by 2020. After 2030, there are significant differences in expected LNG demand under the three scenarios, with the most optimistic scenario showing continued growth, reaching 700 million tons per year after 2040. Furthermore, the Norwegian Maritime Agency announced on Wednesday that it has agreed to the start of production for the third phase of the Ormen Lange natural gas field by Shell and Gassco. The aim of the project is to increase the recovery rate of the Ormen Lange field from 75% to 85% and accelerate gas production. It is understood that Shell stated in last year's annual LNG outlook report that while natural gas demand in regions like Europe, Japan, and Australia has already peaked, global natural gas demand continues to grow, reaching 625-685 million tons per year by 2040.