Jul 5, 2022

Shell signs up to Qatar project as LNG demand booms

Shell has become the latest international partner in the expansion of the world's largest liquefied natural gas project in Qatar as global demand for the fuel soars following Russia's invasion of Ukraine. Shell is already the world's largest LNG trader and is seeking access to more supply. The global LNG trade in 2021 was 380mn tonnes last year, up 6 per cent from 2020, but the next major increase in supply will come from Qatar. Before the war in Ukraine, a key source of LNG for Shell was the Sakhalin-2 project in Russia's far east. Sakhalin-2 produced roughly 11.6mn tonnes of LNG in 2020, of which 3.2mn tonnes will have flowed to Shell before the war.

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