<article><p class="lead">Shell aims to expand its LNG portfolio in the coming years, with plans to create additional demand in new markets, as part of its energy transition strategy. </p><p>The firm aims to create 3mn t/yr of additional demand from new markets by 2025, the firm said in its energy transition strategy presentation. New target markets include the Philippines, Indonesia, Brazil, Pakistan and the Bahamas. </p><p>Shell is also looking to expand its LNG portfolio with additional offtake agreements, including its 2mn t/yr deal with Mozambique LNG and a similar contract with US firm Venture Global, the developer of the 10mn t/yr Calcasieu Pass export facility. Additional agreements will add to Shell's production capacity, which is expected to increase by 7mn t/yr by 2025 once the Canada LNG facility and the seventh liquefaction train at Nigeria's Bonny liquefaction complex are on line. </p><p>The firm plans to invest only in competitive LNG assets with a technical cost of less than $5/mn Btu, the firm said. This would be in line with its average existing cost, which has fallen by approximately 40pc to $4.80/mn Btu from about $8/mn Btu in 2015. </p><p>Shell expects global LNG trade to continue to expand in the coming years and reach roughly 670mn t/yr by 2040. Global LNG deliveries totalled 365mn t in 2020, according to Vortexa. </p><p>Shell delivered 70mn t of LNG last year, it said, with its fleet of LNG carriers standing at 60 vessels. </p><p class="bylines">By Antonio Peciccia </p></article>
