The shelling of ships in the Red Sea has not yet affected the liquefied natural gas (LNG) market, according to Shell CEO Wael Savan. LNG prices are now stabilizing, the company said.
"Right now we don't see a significant disruption to LNG supply because realistically, especially with a portfolio where we're able to optimize and trade within our portfolio," Mr. Savan said.
He did not give an outlook for the rest of the year as there is still uncertainty about demand in Asia. At the same time, the head of Shell is confident that the consumption of liquefied natural gas will grow. Wael Savan added that several Asian countries, including Vietnam and the Philippines, have registered a decline in gas production, which is why they have started importing liquefied natural gas./BGNES
