Asia Pacific LNG Market Outlook 2020
The demand of energy is increasing rapidly across the world. In such a scenario, natural gas is increasingly being considered as the fuel of choice for the near future, as it is less polluting than oil and coal. The market for LNG has been growing at a fast pace for the past few years on the back of factors like, environmental concerns, high energy demand, government support, and huge investments. The world is witnessing a significant level of development in the global LNG trade with imports and exports of LNG forming a vital part of countries’ relationships with each other. Especially the Asia Pacific countries, due to greater economic growth, are pushing themselves to develop and enhance the natural gas and LNG industry.
Our report identified major countries of Asia Pacific region in terms of demand and supply. Each of the countries is studied thoroughly with special focus on demand and supply scenario of the country; major LNG receiving terminals/production plants; under construction and proposed LNG receiving terminals/production plants; and medium and long term receiving/supply contracts. Forecasting of LNG demand/supply for 2015 and 2020 of each country is also provided in the report.
LNG has become an increasingly important supply source in meeting the Asia Pacific energy needs. As majority of Asia Pacific countries are importers of LNG, the region represents a big LNG market. According to our new research report -Asia Pacific LNG Market Outlook 2020-, Asia Pacific represents more than 60% of the world LNG demand.
According to the report, Japan accounts for majority of Asia Pacific LNG demand in 2011. After the nuclear reactors failures due to March 2011 earthquake and tsunami, Japan’s LNG demand increased significantly. Other countries such as China, India and South Korea also contribute significant share in the region’s total demand. Moreover, China is emerging as the fastest growing LNG market.
On the supply side, Australia ranked third in the Asia Pacific region LNG supply in 2011, is expected to outpace Malaysia and Indonesia to become top most LNG supplier in future. With a number of under construction and proposed LNG liquefaction plants, huge investments and various LNG supply contracts, Australia is well placed to take advantage of the considerable opportunities presented by the strong demand for energy resources.
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