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
Also in this section
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
3 March 2026
The killing of Iran’s Supreme Leader Ayatollah Khamenei in US–Israeli strikes marks the most serious escalation in the region in decades and a bigger potential threat to the oil market than the start of the Russia-Ukraine crisis
