MEXICO CITY/HOUSTON, U.S. -- As Asia's appetite for liquefied natural gas grows, energy companies are building more loading and liquefaction facilities on the North American western coast in order to bypass congestion at the Panama Canal.
Asian demand for liquefied natural gas will roughly double to nearly 500 million tons a year by 2040, making up around 70% of global demand, energy giant Shell predicts. Shipments to Southeast Asia in particular is expected to increase by nearly 100 million tons between 2020 and 2040, outpacing the jump of over 60 million tons in those to China.
