Commodity Market Report

Global gas: Asia regional market report

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06 May 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 (May update) - Asian gas demand grows at 2.5% pa between 2022 and 2035 underpinned by pro-gas policies, coal-to-gas switching and rapid economic and population growth. - Challenging environment for domestic gas production: China is the only region where significant production growth is expected, but growth rates slow with increasing reliance on more challenging unconventional gas. Falling exploration activity and commercial conversion rates create the risk of an imminent peak in South and Southeast Asia gas supply. - LNG demand growth bounces back in the late 2020s: Energy security remains a strategic priority for governments. Europe’s strategy of diversifying away from Russia elevates spot LNG prices causing a near-term dampening effect on Asian demand, but we do not foresee risk of major long-term demand destruction.

Table of contents

  • 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

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What's included

This report contains:

  • Document

    Global Gas Service Asia Base Case April 2022.xlsx

    XLSX 1.07 MB

  • Document

    Asia Gas Regional Market Report.pdf

    PDF 1.16 MB