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
Also in this section
28 March 2024
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources