Southeast Asia is set to drive up demand for natural gas — it’s where ‘all the action’ will be
Publishing timestamp: 2023-10-02 20:57:12
Summary
The article discusses how Southeast Asian countries, particularly Vietnam, Thailand, and Indonesia, are expected to be key demand drivers for the LNG market in the next few years. The surge in demand for LNG in Europe, driven by a shift away from Russian pipelines, is expected to recede in the future. Vietnam is highlighted as a bright spot for LNG growth due to its strong economic and population growth, with the government's Power Development Plan 8 driving demand. The article also mentions that Shell has seen tremendous growth in the LNG market, with Germany, Vietnam, and the Philippines being significant potential markets. S&P Global forecasts that Southeast Asia's LNG demand will quadruple by 2033, making up 12% of the global LNG market. However, the article cautions that stable prices and global funding are necessary for the growth of these markets.
Sentiment: POSITIVE
Keywords: oil and gas, golar lng ltd, energy, s&p global inc, business news, commodity markets, environment, vietnam,
Source: https://www.cnbc.com/2023/10/03/southeast-asia-to-be-key-drivers-of-lng-market-by-end-of-decade.html