Emerging Asia is the future of the?liquefied natural gas market — one that never seems to show up in present-day reality.
Consider the history. For at least a decade, the big growth story for shipped natural gas has focused on a handful of mostly Asian countries whose domestic fields are declining. In its inaugural outlook for LNG in 2017, Shell called out Thailand, Bangladesh, the Philippines and Vietnam among leading sources of growth.
The same four countries loom large in its latest projections, published after the crisis in the Strait of Hormuz sent shockwaves through the market. South and Southeast Asia will make up about 40% of LNG imports by the middle of this century, Shell says, accounting for more than two-thirds of additional demand beyond current levels.
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