Shell’s CEO Wael Sawan at the Energy Asia conference in Kuala Lumpur last year
Letter from London: Shell’s unshakeable faith in LNG
Oil and gas major unconcerned by potential supply glut as it bets on growing demand in transport and other sectors, and on the fuel’s long-term role as a ‘stabilising force’ for future energy systems
Projections of an imminent global LNG supply glut have not rattled Shell’s CEO, Wael Sawan. In fact, he reckons a sustained period of lower prices would be “terrific” for the fuel’s longer-term demand prospects in sectors such as transport and maritime. Softer prices would also help to restore the confidence of some LNG consumers that were spooked by price spikes in the wake of Russia’s invasion of Ukraine, Sawan told the International Energy Week conference in London in mid February. “LNG is a cornerstone of resilience for so many nations” Sawan, Shell “You might get to a point in time where there is ample LNG in the market. That would be terrific,” Sawan said. “If you can get plent
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