Shell PLC announced that it delivered 1.1 million tons of liquefied natural gas (LNG) to power ships in 2024, marking a record for the company, which ranks among the largest LNG shipping operators, according to Bloomberg.
The shipping industry, responsible for hundreds of millions of tons of greenhouse gas emissions annually, faces increasing pressure to decarbonize, with LNG—emitting less carbon than oil-derived propellants—serving as a bridge fuel despite releasing pollutants like methane.
“Demand for LNG-fueled vessels is picking up pace,” Tom Summers, senior vice president for Shell LNG Marketing & Trading, said in an email on Thursday.
The company projects a 60% increase in global LNG demand by 2040 and expects LNG-powered vessels to nearly double in number over the next five years, while targeting a methane intensity below 0.2% in 2025 and near-zero methane emissions by 2030.
Shell PLC, headquartered in London, UK, is a global energy company and the world’s largest LNG trader, with LNG sales reaching 17 million metric tons in the third quarter of 2024.