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HomeBusinessSoutheast Asia is set to drive up demand for natural gas —...

Balanced News: Southeast Asia is set to drive up demand for natural gas — it’s where ‘all the action’ will be

Our 'quick read' news summary

Southeast Asian countries, particularly Vietnam, Thailand, and Indonesia, are expected to drive up demand for liquefied natural gas (LNG) in the coming years. This is due to factors such as Vietnam’s Power Development Plan 8, which requires the conversion or retirement of coal plants by 2050. Vietnam’s strong economic and population growth also contributes to its increasing energy demand. The global LNG market is projected to grow, with Southeast Asia forecasted to account for 12% of the market by 2033. However, stable LNG prices and sufficient infrastructure funding are crucial for sustained growth in the region.

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