Commodity Market Report

Global gas: Asia regional market report

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08 November 2022

Global gas: Asia regional market report

Report summary

Long-term Asian gas remains robust despite near-term LNG price pressures: Key highlights of the 2022 Asia gas & LNG outlook (October update) - Asia LNG demand has fallen 7% so far in 2022 off the back of soaring LNG prices, increased competition from Europe and China’s Covid lockdowns. China and South Asia have seen strongest declines due to high spot exposure and availability of alternative fuels. - Despite near-term pressures, Asia gas demand is set to grow some 40% by 2033: Asian gas demand has fallen 2% in 2022 but global price softening post-2026 will trigger a strong rebound, with growth averaging 3% 2023-2033. - Challenging environment for domestic gas production: China is the only region where significant production growth is expected, but growth rates slow. Southeast Asia gas production appears to have peaked while India enjoys a near-term production boom. - Gas and LNG support Asia’s energy transition, but infrastructure and regulatory reform are critical enablers.

Table of contents

    • Near-term gas demand growth is under pressure, but medium term recovery expected
    • Challenging environment for domestic gas production
    • LNG demand growth rebounds in the mid-2020s
    • Gas and LNG support Asia’s energy transition, but infrastructure and regulatory reform are critical enablers
    • Gas demand growth remains positive throughout the 2020s
    • Challenging environment for domestic gas production
    • LNG demand growth bounces back in the late 2020s
    • Gas and LNG support Asia’s energy transition

Tables and charts

This report includes 2 images and tables including:

  • Asia gas at a glance
  • Asia gas at a glance

What's included

This report contains:

  • Document

    Global Gas Asia Market Report October 2022.pdf

    PDF 1.85 MB