The Energy Podcast

Liquefied natural gas (LNG) provides energy security to many countries around the world. But what is the impact of the conflict in the Middle East, and does it change the outlook for the LNG market in the decades ahead?

In this episode of The Energy Podcast, Shell's President of Integrated Gas, Cederic Cremers, and Executive Vice President LNG Marketing and Trading, Tom Summers, discuss how the LNG market responded to the disruption in the Strait of Hormuz, which affected around one-fifth of global LNG trade.

The episode examines what the disruption revealed about energy security, supply diversification and global demand for LNG. It also looks at the role of LNG in power generation, industry and transport today and in the future.

LNG Outlook 2026: https://www.shell.com/what-we-do/oil-and-natural-gas/liquefied-natural-gas-lng/lng-outlook-2026.html

LNG: https://www.shell.com/what-we-do/oil-and-natural-gas/liquefied-natural-gas-lng.html

Additional context: when speakers refer to Shell's reduction of methane emissions, they are referring to a 78% reduction in total methane emissions from assets under Shell operational control, from 138,000 tonnes in 2016 to 31,000 tonnes in 2025. Based on the data published in Shell plc's Annual Report and Accounts for the year ended December 31, 2025. The information reflects Shell's position as reported at that date and may not represent current performance, achievements or progress.

References to LNG as a lower-carbon alternative are application-specific, such as replacing coal in industry and power generation and oil in heavy-duty road transport and shipping, and are not intended as absolute comparisons across all applications and circumstances.

Methane emissions: https://www.shell.com/what-we-do/oil-and-natural-gas/methane-emissions.html

About The Energy Podcast: https://www.shell.com/news-and-insights/the-energy-podcast.html

Cautionary note: https://www.shell.com/investors/disclaimer-and-cautionary-note.html
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What happens when a global energy chokepoint closes?
In this episode of The Energy Podcast, we go inside Shell's response to the closure of the Strait of Hormuz, a disruption that put around a fifth of global oil and LNG supplies at risk.

Drawing on first-hand experience, Shell's Chief of Staff Tony Nunan and Executive Vice President Shipping and Maritime Karrie Trauth reflect on navigating uncertainty, supporting ships and crews affected by the crisis, and working with governments, partners and customers to help keep energy flowing safely.
From difficult decisions to the complexity of global shipping networks, this is a behind-the-scenes look at navigating a crisis when the world's energy system is under strain.

About The Energy Podcast: https://www.shell.com/news-and-insights/the-energy-podcast.html

Cautionary note: https://www.shell.com/investors/disclaimer-and-cautionary-note.html
See omnystudio.com/listener for privacy information.

What is the ongoing disruption to global energy supplies revealing about the energy system?
In this first episode of a new season of The Energy Podcast, we step back from the headlines to examine how the system is responding to the shocks prompted by the Middle East conflict, and what it could mean for the energy transition.
With insights from Shell’s Chief Energy Adviser Peter Wood, Chief Economist Mallika Ishwaran, and Chief Climate Change Adviser David Hone, the discussion explores the resilience of global supply, the shifting balance between energy security, affordability and sustainability, and why the energy transition remains complex, uneven and long term.
About The Energy Podcast: https://www.shell.com/news-and-insights/the-energy-podcast.html https://www.shell.com/news-and-insights/the-energy-podcast.html
More on Shell Scenarios: https://www.shell.com/news-and-insights/scenarios.html
Cautionary note: https://www.shell.com/investors/disclaimer-and-cautionary-note.html
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In the season finale of The Energy Podcast, Shell’s CEO Wael Sawan reflects on a year of significant change globally. He discusses navigating through uncertainty, accelerating the energy transition, and embracing AI. He also shares how Shell is transforming into a fitter, more competitive company – one better equipped to navigate whatever lies ahead.
Tune in for insights into the energy system, the outlook for liquefied natural gas (LNG), and leadership through times of change.
Learn more about The Energy Podcast
The Energy Podcast is a Starstruck Media production for Shell.

Episode references
References to $20-22 billion of capital or investment per year refer to Shell's cash capital expenditure of $20-22 billion per year between 2025-2028.
References to distributions of 40-50% of our cash flow from operations (CFFO) refers to Shell's shareholder distributions target of 40-50% of CFFO through the cycle.
For more on the reference to $20 billion of capital Shell has employed in power as well as lower-carbon businesses, see Shell's Capital Markets Day 2025 presentation: Delivering more value, with less emissions
For more information on Shell’s energy transition targets and ambition, visit Climate | Shell Global
In 2024, 78.2% of Shell's global investments included oil & gas, 11.37% included low-carbon energy solutions and 10.43% non-energy products. Shell's target is to become a net-zero emissions (NZE) business by 2050. Cautionary note, including NZE target: Cautionary note | Shell Global
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Oil is the source of about 30% of the world's energy today. It’s also the basis of ingredients in many everyday products - from your phone to clothes to medicines. Featuring Shell's President of Upstream, Peter Costello, this episode of The Energy Podcast explores the evolving role of oil in the energy mix.
Peter discusses the future of oil in the energy transition, the impact of growing energy demand, and the need to continue investing in production that’s cost- and carbon-competitive to help provide the energy the world needs today.
Learn about Shell’s oil and gas activities
Learn more about The Energy Podcast
Cautionary note

The Energy Podcast is a Starstruck Media production for Shell.
See omnystudio.com/listener for privacy information.