Shell projects global LNG demand will surge by at least 45% by 2050 from 2025 levels, with consumption ranging between 610 million to 780 million annually by mid-century. This forecast comes as Middle East conflict disrupts markets, with traffic through the Strait of Hormuz reduced to a trickle. Shell has declared force majeure for some shipments following a shutdown at Qatar's export plant.

The oil major extended its outlook range to 2050, with Asia expected to remain the primary demand driver. European nations will continue requiring LNG as renewable energy rollouts lag despite net zero targets. Despite potential market oversupply, Shell expects increased fuel availability to help lower global gas prices, boosting price-sensitive demand.

Timelines for some LNG projects face uncertainty due to costs, supply chain issues, and labor challenges. QatarEnergy has already delayed a major expansion project to at least 2027. Shell acknowledged its forecast data, accurate as of March 16, 2026, could vary due to the evolving conflict in the Middle East.