« BackNews: Shell Considering Global Network Of LNG Hubs
Shell Considering Global Network Of LNG Hubs
Royal Dutch Shell’s executive vice president for gas and energy marketing Steve Hill has revealed that the company is looking into setting up a global network of liquefied natural gas (LNG) supply hubs for vehicles.
The National reported on the comments he made at the World Petroleum Congress in Istanbul earlier this month, noting that the firm is seeking ways to grow demand for the fuel in the transport sector after purchasing natural gas producer BG Group.
This acquisition allowed Shell to gain a 20 per cent market share of the world’s LNG market, at a time when output is increasing to help meet demand as countries around the globe look for alternatives to coal and oil.
Mr Hill explained that the transport sector is expected to become more important to LNG producers than electricity generation in the future.
“In the foreseeable future over half of demand won’t come from electricity but from heavy-duty transport, trucking for roads and marine, use in chemicals,” he stated.
Shell isn’t the only company that’s keen to see demand for LNG grow. Chief executive at Total Patrick Pouyanne told the news provider that his company is re-focusing on gas and that it’s “critical” that demand for the fuel increases.
The UK is one country that’s likely to need to import more gas in the future, with the nation recently welcoming its first shipment of US shale gas and the terminal manager at the Isle of Grain storage site explaining that it’s good to diversify and use more suppliers to provide the fuel.
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