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Northbridge Industrial Services Plc

Demand for liquefied natural gas set to double by 2040, according to Shell

Worldwide demand for liquefied natural gas, or LNG, rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.

Citing forecasts, Shell said that LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon energy system.”

Shell added that LNG imports in China grew by 14% last year, while Bangladesh, India and Pakistan saw imports reach 36 million tons, representing growth of 19%.

Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.