Asia Pacific gas & LNG: 5 things to look for in 2023
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Report summary
Table of contents
- Executive summary
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1. Europe and China demand dynamics drive LNG spot prices
- Prices risked to the upside with incremental liquefaction capacity in short supply
- High prices cramp Asian import demand
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2. Subdued long-term LNG contracting in Asia amid rising contract prices
- Strong global contracting momentum, but all quiet on the Eastern front (ex-China)
- The return of Brent-linked contracting
- US LNG contracting gets interesting
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3. Falling domestic supply across most of Asia, but a few bright spots for upstream activity
- China – NOC E&P investment continues to underpin surging supply growth
- South Asia – Market reforms key to boosting domestic gas production
- Southeast Asia – Mature fields in decline with limited new fields as backfill
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4. Sharp rise in Asian regasification capacity, but pricing reforms needed to sustain growth
- China – Continuous infrastructure build and market reform
- India – New regasification terminals in the east should unlock large areas of future demand
- Southeast Asia – First LNG imports for Vietnam and Philippines, but long-term pricing remains uncertain
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5. Asian governments remain supportive of gas & LNG despite near-term affordability issues
- Northeast Asia – Resilient LNG demand supported by energy security and transition policies
- China – Safeguarding energy security and affordability to ensure socio-economic stability
- South Asia – Gas affordability remains the biggest driver of market development
- Southeast Asia – Continued support for LNG imports with a concurrent search for alternatives
Tables and charts
This report includes 5 images and tables including:
- Asia gas production
- Asia regasification capacity vs demand
- Asia LNG demand
- LNG contract ACQ signed to end users
- Oil-indexed contract slopes delivered to Asia
What's included
This report contains:
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