Southeast Asia embraces LNG
by Seth Haskell, Research Analyst 2023 saw Vietnam and the Philippines both open their first LNG import terminals, both LNG-to-power projects. The entry of Vietnam and the Philippines into LNG markets heralds a new era for the fuel in the region. The project pipeline for Southeast Asia will see 24m t/y of new LNG import capacity added before 2030, an increase of 45%. The backdrop to this expansion is fast-growing economies and declining natural gas production. Southeast Asia is endowed with substantial natural gas resources with few outlets for export beyond the region. As a result, since the 1970s and 1980s when production began climbing, natural gas has played an important role in the
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