Shell projects global liquefied natural gas (LNG) demand to increase by about 65%, reaching nearly 700 million metric tons annually by 2050, according to its 2026 LNG Outlook report published in June 2026 [1, 2]. This growth follows a 2025 global LNG trade volume of 422 million metric tons, which was expected to climb in 2026 before disruptions affected supply [1, 2, 3].
Since early 2026, severe interruptions in shipping through the Strait of Hormuz—a crucial energy shipping route linking the Persian Gulf with international markets—have shut in roughly one-fifth of global monthly LNG supply. This disruption mainly affected major LNG exporters such as Qatar and caused a sharp spike in regional energy prices, including Dubai crude oil, which more than doubled from around $60 to $137.82 per barrel in just three weeks [1, 2, 3, 4, 5].
Shell’s president of Integrated Gas, Cederic Cremers, said the conflict "created a system-wide shock with disruption cascading across all segments of the economy, but the LNG industry has proved resilient and able to adapt to changing market conditions" [1, 2]. North American liquefaction capacity expansions and slower LNG import growth in Asia partly offset lower supply from the Middle East [1, 2].
If shipping through the Strait of Hormuz returns to normal by summer 2026, global LNG trade could stay flat at 2025 levels for the remainder of the year before resuming growth in 2027 [1, 2, 3].
Asia—especially South and Southeast Asia—is expected to drive much of the future LNG demand, accounting for about 40% of global LNG imports by 2050 as countries seek lower-emission alternatives to coal. Rapid industrial electrification, expansion of AI and data centers, and shifts to flexible natural gas roles complementing solar, wind, and energy storage are fueling this demand surge [1, 2, 3, 4]. Notably, data center electricity demand in ASEAN is projected to grow from 2.6GW to 10.7GW between 2025 and 2035 [4].
In Southeast Asia, geopolitical instability and conflicts have caused elevated energy prices, inflation, and currency volatility, impacting economic growth [5]. To mitigate risks, regional strategies include developing resilient, integrated cross-border energy infrastructure such as the Trans-ASEAN Gas Pipeline and power grid integration projects [4].
Europe is expected to continue relying on LNG to complement declining domestic gas production and balance renewable energy supply [1, 2]. Shell forecasts 180 million metric tons per year of new LNG supply entering the market by 2030 to meet rising global demand [1, 2].
The Gastech 2026 conference will be held September 14–17 in Bangkok, focusing on resilient natural gas and renewable energy systems for the ASEAN region [4].
