Demand growth in the global LNG market will not only hinge on new infrastructure and growing economies. It will also require an influx of additional buyers entering the market in search of clean, reliable and affordable energy. Nowhere is this more true than in Asia where steps have already been made to open up markets, add new participants and promote price discovery. However, demand prospects are very different in the established Northeast Asian market compared with the emerging economies in South and Southeast Asia. Competing fuels, energy efficiency and infrastructure constraints all play a role in dampening the outlook for demand in Northeast Asia. China, though, is set to continue to see strong LNG import demand growth given supportive government policy and could well overtake Japan as the world’s biggest LNG importer in the early-to-mid-2020s. Other established buyers such as Pakistan, Bangladesh, India and Thailand will help prop up demand across the rest of Asia as they look to grow total power generation, industrial end-use and transportation demand while building out infrastructure to support LNG. And emerging buyers elsewhere in Asia – countries such as Sri Lanka, Vietnam and the Philippines, which are looking for a reliable source… continue reading
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Source: CTRM Center