European Big Oil majors are dominating the LNG trading sector, leaving U.S. counterparts behind. Shell forecasts a 60% increase in LNG demand by 2040, driven by Asian economic growth. Europe aims to replace Russian energy imports with U.S. sources, boosting LNG reliance. Asia’s demand for LNG is growing rapidly, with Indonesia deferring exports for domestic supply.

Shell, TotalEnergies, and BP are expanding LNG capacity, while Exxon and Chevron are ramping up efforts to catch up. New heads of LNG trading for both U.S. supermajors are based in Asia. Increased competition among suppliers will benefit consumers, as demand for LNG is expected to rise in response to economic factors.

The International Gas Union predicts stable and rising natural gas demand, with energy demand expected to increase leading up to 2030. Exxon and Chevron aim to diversify their LNG presence to ensure long-term success in the industry. Successful LNG trading requires a broad global presence, according to industry experts.

Read more at Yahoo Finance: U.S. Oil Giants Bet Big On European LNG Trading Strategies