New LNG markets prove tough nuts to crack
Floating storage and regasification has reduced entry barriers for aspiring LNG importers. But opening up a new market remains a tricky business
Most of the growth in LNG trade over the coming decades will be in Asia-Pacific. Imports into China are set to double and deliveries to South Asia to triple. However, the fastest-growing region will be Southeast Asia, according to Shell’s latest long-term LNG Outlook. It predicts that imports into the countries of the Association of Southeast Asian Nations (Asean) will grow by a staggering 553pc from 15mn t in 2020 to 98mn t in 2040. “Growth in demand is expected to come mainly from emerging markets and new entrants to the industry, such as the Philippines and Vietnam, who are only just starting to build the infrastructure needed to import LNG,” says Maarten Wetselaar, director of Shell’s In
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
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