Liquefied natural gas (LNG) will be European oil major Shell's biggest contribution to the energy industry over the next decade in terms of value and as it seeks to cut emissions from fossil fuel production, CEO Wael Sawan said on Monday.

Sawan has increased Shell's focus on natural gas to improve the company's financial performance against its peers in Europe and the U.S. since taking over as CEO in January 2023, pivoting away from renewables by pulling out of a number of wind, solar and other low-carbon ventures.

Sawan said he believes LNG is one of the most effective fuels in the effort to lower global emissions as it can replace coal in places like India, China and other Asian countries. He expects demand for the superchilled fuel to grow 60% between now and 2040, with LNG making up

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