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

Russian Oil Companies Told to Boost Fuel Supply to Domestic Market

Japan’s Mitsubishi Invests in EIG’s LNG Unit MidOcean Energy

Petronas Starts Construction of Malaysia's First Nearshore FLNG Facility

Exxon Mobil Continues to Ramp Up LNG Portfolio

Big Oil Execs Push Back Against Calls for Fast Energy Transition

Fugro Gets Marine Survey Job at Indonesia’s LNG and CCS Scheme

Singapore's Temasek Shortlists Saudi Aramco, Shell in Sale of Pavilion Energy Assets

Quick Connect: OAL Subsea Pipeline Completed

Woodside Sells 15.1% Scarborough Stake to JERA for $1.4B

Brassavola Completes Maiden Ship-to-Ship LNG Bunkering Operation

Current News

Doris, Rosen and Spiecapag Team Up to Repurpose Natural Gas Pipelines for Hydrogen

Indonesia to Ask Mubadala to Speed Up South Andaman Gas Development

Interview: Caroline Yang, CEO, Hong Lam Marine & President, SSA

Indonesia Offers Five Oil and Gas Blocks, Pledges to Boost Exploration

ADES Holding Signs $94M Jack-Up Rig Deal with PTTEP

Cyan Renewables, Hyundai to Set Up Offshore Wind Vessel Suply Chain in South Korea

Mubadala Energy Makes Second Major Gas Discovery in Indonesia

Subsea7, OneSubsea to Install Türkiye’s First FPU in Black Sea

Optimizing Cathodic Protection Survey Using Non-contact Sensors

Into the Deep: Offshore Production Increasingly Finds Deeper Waters

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