Energy security policies and need for fuel diversification is encouraging the Asia-Pacific countries to adopt LNG as a means to reducing dependence on imported oil.
According to a recent market research report “Global LNG Market – The Road Ahead” by RNCOS, Asia-Pacific is the traditional centre of the international LNG industry, with highest LNG demand and South Korea and Japan as the major LNG importers in the region. The primary reasons for the excessive demand in Asia-Pacific are fuel diversification and energy security policies with increased emphasis on environmental issues that are encouraging the major economies of the region to adopt LNG as a means of reducing dependence on imported oil.
The report says that the sustainable development (especially in relation to energy use) and environment are emerging as two of the most critical issues for the world. But LNG, with its efficient and clean nature, can play a crucial role in ensuring a seamless development process without damaging the environment. Both in China and India, high energy demand, coupled with a large share of coal in the energy basket, has significantly added to the air and water pollution. Thus, to deal with the problems, both economies are exploring and supporting the use of natural gas. For instance, China has banned the construction and expansion of coal-fired power plants in some large and mid-sized cities.
Put broadly, the Asia-Pacific region has a robust outlook towards economic growth in comparison to other regions. Due to strong economic growth, energy demand will be spurred by a rise in economic output and income, making the region next opportunity stop for the global LNG players.
Asia-Pacific is just one of the regions covered in the “Global LNG Market – The Road Ahead”. The report provides an exhaustive study on the global LNG industry. It gives rational analysis supplemented with statistical data on key growth factors, current market trends, major markets and growth prospects in the industry to guide the investors to navigate through the evolving LNG market at global as well as regional level. The report also provides forecast on LNG liquefaction capacity, global LNG regasification capacity and LNG demand by region.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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