Downward drift
Gas production across the region is set to decline, with China the major exception, leading to increasing LNG imports
After peaking at over 440bn cubic metres a year in 2015, gas production in Asia is predicted to start gradually declining in the coming decade. Indonesia, Pakistan, Thailand, Bangladesh, Myanmar—and to some extent Malaysia—will see falling indigenous production from established reserve bases. By 2030, gas production in Asia is predicted at just over 390bn cm/y, according to Rystad Energy, representing an annual average reduction of 0.8%. Gas production is set to increase most markedly in China, where output will rise from 120bn cm/y in 2016 to around 150bn cm/y by 2030, surpassing all other Asian nations. Dominant producer PetroChina has been steadily building gas production capacity across
Also in this section
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them
22 April 2024
Beijing’s renewed targeting of NOC management could threaten investment