Asia's Natural Gas Market Set to Become World's Second Largest by 2015 - KCTV5

Asia's Natural Gas Market Set to Become World's Second Largest by 2015

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE World Review

VADUZ, Liechtenstein, May 7, 2014 /PRNewswire/ --

http://www.worldreview.info

ASIA'S natural gas market is the fastest-growing in the world and is projected to become the second-largest gas market by 2015 - after the United States - with an annual gas demand of 790 bcm, writes World Review author Dr Frank Umbach from the Centre for European Security Strategies, Germany.

Its regional share of global demand for natural gas increased from 13 per cent to 19 per cent during the last decade. 'Regional gas consumption may even nearly double, widening the gap between regional demand and supply, and resulting in a continued rise of Liquefied Natural Gas (LNG) and pipeline-gas imports,' he says.

The US will remain the largest single gas consuming country in the world with a gas demand 50 per cent higher than China's in 2035.

China became a LNG importer in 2006 and was originally dependent on Australian LNG for more than 80 per cent of its imports. Australia remains China's largest source for LNG. China has also expanded its pipeline gas imports from Turkmenistan and Myanmar in contrast to other major LNG importers in Asia.

Russia, facing a stagnating or even decreasing gas demand in Europe, is looking to increase its gas exports to the Asia-Pacific.

Asian energy companies have recently developed a vision of an interconnected Asian gas market with new pipeline infrastructure from Russia's Far East, a China-Taiwan pipeline and LNG hubs in Singapore, China, South Korea and Japan.

'But a competitive natural gas market in Asia depends on a much more flexible LNG supply with further expansion in shipping, new pipeline networks, a granted third-party access to regasification terminals and effective independent regulatory authorities in the Asia-Pacific region,' writes Dr Umbach.

Read the full World Review report here.

Information for the editor 

World Review author Dr Frank Umbach is a Senior Associate and Head of the Programme 'International Energy Security' at the Centre for European Security Strategies (CESS) GmbH, Munich-Berlin and Associate Director of the European Centre for Energy and Resource Security (EUCERS) at King's College, London.

About World Review 

World Review (http://www.worldreview.info) is a free to access website that offers analytical reports provided by a network of leading global experts in geopolitics, economics, defence, security and energy.

World Review has been developed by Geopolitical Information Service AG, which is based in Liechtenstein and is well known for its independent outlook. The website was founded by H.S.H Prince Michael of Liechtenstein.

Prince Michael is a widely recognised entrepreneur and expert in the field of global geopolitics and economics, and is the President of the European Centre of Austrian Economics Foundation (ECAEF), a liberal think-tank based in Liechtenstein.

Copyright 

Please attribute any copyright to © 2014 Geopolitical Information Service, and provide a hyperlink to the http://www.worldreview.info website.

Contact information

Social Media
Join us on Facebook
Follow us on Twitter

Social Media Editor
Sian Claire Owen
Email: owen@geopolitical-info.com
Tel: +44(0)7962-383019

General Enquiries
Email: barich@geopolitical-info.com
Tel: +423-231-19-41
Headquarters: Herrengasse 21, 9490 Vaduz, Liechtenstein


©2012 PR Newswire. All Rights Reserved.

Powered by WorldNow
KCTV 5 News

Online Public File:
KCTV  KSMO

Powered by WorldNow CNN
All content © 2014, KCTV; Kansas City, MO. (A Meredith Corporation Station) and WorldNow. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.