Shell (SHEL) shipped a record 1.1 million tons of liquefied natural gas, or LNG, to fuel marine vessels last year, Bloomberg reported Thursday, citing an email from a company executive.
"Demand for LNG-fueled vessels is picking up pace," Tom Summers, senior vice president for Shell LNG Marketing & Trading, told the news outlet. "LNG helps ship owners to reduce greenhouse gas emissions."
The company said last month that it forecast global LNG demand to increase by around 60% into 2040 and the number of LNG-powered vessels to almost double in the next five years, according to the report.
Shell did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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