Shell LNG Forecast, Cuba Grid Collapse, Middle East Petroleum Exports: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

LNG
Shell: Global LNG Demand to Rise at Least 54% by 2040 - Global demand for liquefied natural gas (LNG) is estimated to rise by 54-68% by 2040 and 45-85% by 2050 from 422 million metric tons in 2025, Shell, the world's biggest LNG trader, said on Monday. On Monday, Shell narrowed the 2040 range to 650 million tons per annum (MTPA) and 710 MTPA and extended its forecast to 2050 at an expected range for LNG demand of 610 MTPA and 780 MTPA. The company plans to grow its LNG sales by 4-5% a year. (Reuters)

CRUDE OIL
Reuters: Middle East Oil Exports Drop 60% - Daily oil exports from the Middle Eastern Gulf have dropped by at least 60% in the week ending March 15 compared to February due to disruptions and output cuts amid the U.S.-Iran war, according to shipping data and Reuters calculations. Crude oil, condensate and refined fuels exports from eight Middle Eastern countries--Saudi Arabia, Kuwait, Iran, Iraq, Oman, Qatar, Bahrain and the United Arab Emirates--in the week to March 15 averaged 9.71 million barrels per day (BBL/d), data from Kpler showed, down 61% from 25.13 million BBL/d in February. (Reuters)

POWER
Cuba's Electric Grid Collapses, Millions Without Power - Cuba's national electric grid collapsed on Monday, the country's grid operator said, leaving around 10 million people without power amid a U.S.-imposed oil blockade that has crippled the island's already obsolete generation system. Grid operator UNE said on social media it is investigating the causes of the blackout, the latest in a series of widespread outages. Officials ruled out a major power plant failure, but had still not pinpointed the root cause of the grid collapse, suggesting a problem with transmission. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).