Shell’s CEO Surprised by Record LNG Buildout Amid Gas Exuberance

Shell Plc Chief Executive Officer Wael Sawan said the number of new liquefied natural gas projects moving forward was surprising given their high costs, underscoring the fuel’s long-term role in the global energy transition.

“There is a significant amount of capacity being built at the moment, including here in the US,” Sawan said at an event hosted by the Economic Club of New York on Monday. “The number of final investment decisions being taken surprises me, if I am honest, because it’s at the higher end of the cost curve. Yet those capacities continue to come in.”