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Asia LNG Imports to Rise 24% by 2030 as Uncontracted Demand Doubles: BNEF

LNG

LNG imports across North Asia are forecast to jump 24% from last year to hit 242m metric tons by 2030, according to BNEF. The rise in gas demand from the industrial and power sectors is driven by efforts to lower coal use but limited by increased nuclear and renewables.

  • Uncontracted LNG demand in North Asia is forecast to double by 2030 to 34.8m tons. South Korea will drive most of the growth from expiring agreements with Qatar.
  • Mainland China's uncontracted demand is likely to remain limited with contracted levels close to or above 90% as new contracts begin and despite rising LNG needs.
  • Japan is expected to be over-contracted until 2030.


Source: Bloomberg

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