Asian LNG imports to grow 3.7% annually over the next decade

This is to support the increasing demand, according to Wood Mackenzie.

Asian countries’ imports of liquified natural gas (LNG) were expected to increase 3.7% annually over the next decade to address the growing LNG demand in the region, according to Wood Mackenzie. 

In a blogpost, WoodMac Asia Pacific Vice Chair Gavin Thompson said that the outlook for Asian gas demand is “overwhelmingly positive,” with the region’s gas consumption is seen to grow at almost 3% a year over the next decade, despite the pandemic restrictions and “sky-high” spot prices and competition from renewables.

“Asia’s biggest gas market challenge is now meeting demand. The near-certain long-term decline in regional gas production makes rising import dependency inevitable, future-proofing future Asian LNG demand: we expect imports to grow at a heady 3.7% a year over the next decade,” he said.

Thompson added that China is leading the demand growth, whilst Southeast Asia and South Asia were becoming the fastest LNG markets globally.

The new long-term LNG contracting rebounded to its highest level in five years in 2021 due to the increase in Asian demand, with buyers from the region accounting for 85% of global contracting, he said.

He added that much of the newly contracted supply will come from Qatar and the US, “plugging the fast-growing gap between Asian gas demand and declining indigenous supply” in the region.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!