Asia currently has two of the world’s three largest economies, and its energy needs to fuel these economies are continuing to grow. Energy suppliers are increasingly looking to exploit this market demand, trying to secure their market share in an economy with a long term demand. To this effect, energy suppliers are looking to how they can best fulfill the needs of the Asian energy markets.
Liquid natural gas is becoming an increasingly viable source of energy for the massive Asian economies. LNG’s price is falling as technology in shale gas extraction improves, and Asia already holds incredibly large proven reserves of natural gas. In addition to Asia’s large reserves, Russia holds the world’s overall largest proven reserve. As LNG is increasingly becoming a reliable and secure form of energy for Asia to exploit, natural gas suppliers are recognizing this and are pivoting their focus to Asia as a result. Moving in to the future we can expect to see natural gas playing an important role in fulfilling the energy demands of Asia’s growing economies.