Asian LNG demand growth set to slow

Weaker outlook for the Chinese economy and greater pipeline flows threaten to hamper expansion of the shipborne market

Asia’s strong appetite for LNG last year highlighted its role as a long-term driver of global demand for the fuel. But patchier growth is anticipated in 2022, as momentum ebbs in the core consumption markets of China, Japan and South Korea. Asian LNG demand expanded last year by 22mn t compared with the previous year, representing growth of 17pc on an annual basis, easily outpacing the other key markets of Europe and Latin America, according to research firm Bernstein Research. China contributed the majority of this growth, with imports climbing by 18.3pc, to a record 78.93mn t, resulting in it overtaking Japan as the world’s biggest LNG buyer. Core markets to slow China’s LNG demand will co