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Asia’s emerging economies and growing population are expected to sustain growth in the global LNG market and help absorb excess supplies hitting the water later this decade as new export projects come online.
Europe is on a trajectory to cut natural gas demand as industrial consumption falls and more renewables are expected to come online, leaving suppliers to focus on fulfilling nascent demand in Asia in the coming decades.
The Gas Exporting Countries Forum (GECF) expects the Asia-Pacific region to account for more than 52% of the 700 billion cubic meter (Bcm) increase in global natural gas demand expected by 2050. India, China and Southeast Asia are expected to underpin growth in the region.
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