LNG to Be Shell’s Biggest Energy Contribution Over Next Decade, CEO Says.

Liquefied natural gas (LNG) will be European oil major Shell’s most significant contribution to the energy industry in terms of value and emission reductions over the next decade, CEO Wael Sawan said recently.

Since taking over as CEO in January 2023, Sawan has shifted Shell’s focus toward natural gas to strengthen the company’s financial performance relative to its European and U.S. peers, moving away from renewables by exiting several wind, solar, and other low-carbon projects.

Sawan emphasized LNG’s role as a cleaner fuel that can replace coal in major markets such as India, China, and other Asian countries, helping to reduce global emissions. He projected that demand for LNG will increase by 60% by 2040, with the fuel accounting for approximately 20% of global natural gas sales—up from around 13% currently.