Global demand for liquefied natural gas (LNG) is set to grow more than 50 percent against the current level driven by China's shift from coal to gas and economic development in South and Southeast Asia, according to Shell PLC. LNG trade last year increased to 404 million metric tons from 397 million metric tons 2022, Shell said in an outlook report. While natural gas demand has already peaked in some regions, it continued to rise globally "with LNG demand expected to reach around 625-685 million tonnes a year in 2040, according to the latest industry estimates", Shell said in a press release accompanying the report, both accessible on its website. Steve Hill, executive vice-president of the Shell Energy brand, explained, "China is likely to dominate LNG demand growth this decade as its industry seeks to cut carbon emissions by switching from coal to gas".