Asian LNG demand poised to climb further

The LNG sector remains very bullish about the prospects for Asian demand in the 2020s

Most of Asia has seen a rapid rebound—both ongoing and forecast—in post-­Covid LNG demand this year, according an IP Week panel in late February which also emphasised gas’ vital role in the region’s push towards decarbonisation. There was also broad buyer and seller consensus in favour of eliminating destination clauses for LNG supply contracts. Ma Li, an analyst at China’s state-controlled Sinopec, forecasts that Asian gas demand will reach 600bn m³ by 2030, a 70pc increase on current levels. And other speakers remained confident of strong demand growth this decade, with China—unsurprisingly—helping to drive much of that expansion. Despite the impact of Covid-19, China still logged a GDP in