Asia to soak up global LNG glut
Weak prices reflect a region awash in supplies. Rising demand will soak up the global surfeit, but not until the 2020s
Although Asia-Pacific is buying less liquefied natural gas at the moment, as big established users consume less, demand for the fuel should rebound with a vengeance early next decade as gas-fired power-generation capacity ramps up and new markets are opened. Indeed, whatever today's doubts, the longer-term picture still looks rosy. Asia-Pacific could see a 50% increase in LNG demand between 2016 and 2035, according to data from consultancies Wood Mackenzie and FACTS Global Energy. Southeast Asian demand could surge by 80% over the same period while consumption growth in South Asia is set for a 70% increase. Much of this will be driven by strong uptake of imported LNG for power generation in
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
