Therese Robinson

As U.S. and Middle East LNG exporters appear poised to be the dominant long-term players in the global market, competition for Asian buyers willing to pay for the next wave of supply could be heating up.

Asia’s emerging economies and growing population are expected to sustain growth in the global LNG market and help absorb excess supplies hitting the water later this decade as new export projects come online.

Egypt’s plans to become a regional natural gas export hub are on hold as dwindling domestic production and extreme heat increase its dependance on Israeli pipeline and LNG cargoes to meet surging power demand.

Spiking natural gas consumption across South and Southeast Asia continues as dwindling domestic production and increasing power demand continue to drive global LNG market interest.

A sustained heat wave over India since mid-spring has created a surge in natural gas-fired power generation, pushing LNG imports in May to the highest level in almost four years.

China, the world’s largest LNG importer, could bring in up to 80 million tons (Mt) this year as strong demand from the industrial, power generation, and transport sectors support consumption.

South Korea’s recent oil and gas discovery off its southeastern coast could eventually reduce the country’s reliance on fossil fuel imports, but the discovery’s commercial development is unlikely to happen before the next decade.

An influx of LNG once again has Europe on track to fill its storage inventories ahead of the winter heating season.

Worldwide demand for LNG has driven buyers to sign more than 25 million metric tons/year (mmty) in supply contracts in the last year for Qatar’s next generation of export projects.

The European Union’s (EU) efforts to limit its dependence on Russian energy supplies have led to steep drops in natural gas consumption, helped to diversify suppliers and accelerated the transition to clean energy, according to a review of the initiatives.