Asian LNG Demand to Grow

Laxman Pai
Monday, October 22, 2018

Currently planned regasification capacity expansions in Asia will allow LNG demand to grow towards 2030, said energy consultent Rystad Energy.

Total planned capacity additions is forecasted to reach 700 Mtpa by 2030 driven by expansions in China and India. Asia LNG demand of 392 Mt in 2030 would imply an average utilization rate of 56% if all regasification projects were sanctioned.

The seasonality in East Asian demand will require China to continue its capacity development, while more stable demand in the South and South East Asia can allow the regasification plants to run at a higher utilization rate.

Further regasification expansion is required in the Middle East towards 2030 seeing LNG demand outpacing current and planned capacity driven by Turkey and Bahrain.

Similarly, South and Central America will need new import facilities driven by Chile, Colombia and Argentina. Europe, however, will have excess capacity for increased LNG imports being well positioned to take excess volumes depending on the market tightness.

Overall, the growth in demand will be supported by the large regas capacity which will reach over 1150 Mtpa by 2030.

Categories: Energy LNG

Related Stories

Second Hai Long Substation Heads to Project Site Offshore Taiwan

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Tokyo Gas Enters LNG Market in Philippines

Japan's Mitsui Eyes Alaska LNG Project

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

ABS Approves Hanwha Ocean’s FPSO Design

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

TVO Selects Collins to Head Australian Ops

Global OTEC Presents OTEC Power Module for Remote Offshore Platforms

Current News

Argentina YPF to Shed Offshore Exploration Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

CNOOC Discovers ‘Vast Exploration Prospects’ in China’s Beibu Gulf Basin

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com