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China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
South Korea’s transition bottlenecks keep LNG in play
The country’s new government has grand plans for renewables, but the structural changes needed for these policies will take years to carry out
India to help Asia spearhead global refining
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Argentina makes progress on LNG dream
Eni is joining the first phase of the 30mt/yr ARGLNG, while consortium behind the smaller Southern Energy LNG has reached FID
Australia’s LNG flashpoint
Scapegoating foreign buyers will not solve country’s gas shortages
EU faces tough task following Japan LNG model
The bloc may find it very difficult to replicate Japan’s approach due to fundamental differences in policy and markets
Cheap gas key to unlocking new markets
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
LNG faces promises and perils ahead
LNG has opportunities to expand in established markets and access new ones, but the sector’s outlook is also fraught with uncertainties, from political and regulatory difficulties to chokepoints, project delays and cost overruns, says the IGU
Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
LNG Japan China Taiwan South Korea
Gordon Bennett
21 September 2020
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JKM globalises the gas market

In Asia, an increasingly liberalised LNG market has enabled the region to mitigate a lack of interconnected pipeline infrastructure

LNG liberalisation—the move from a procurement structure to one that is market-based—has globalised the natural gas market, creating a virtual pipeline between continents. On the supply side, the shale gas revolution turned the US into a net gas exporter, while independent terminal developer Cheniere’s pioneering business model of selling LNG on a free-on-board (Fob) basis indexed to a gas benchmark is widely credited as a catalyst for the change in market structure. For LNG buyers, the unwinding of long-term legacy LNG contracts and access to US gas that held, initially at least, a large discount to price levels in the demand centres of Europe and Asia further precipitated this development.

Also in this section
China’s oil output to scale new heights
25 June 2025
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
South Korea’s transition bottlenecks keep LNG in play
25 June 2025
The country’s new government has grand plans for renewables, but the structural changes needed for these policies will take years to carry out
Old hands dominate Algeria’s upstream auction
24 June 2025
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
Angola’s oil industry revamp
24 June 2025
Africa’s second-largest oil producer is creating the right conditions for the sector to try to boost output, explains Ian Cloke, COO of UK-based Afentra

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