December 12, 2024 [Wood Mackenzie]- Economic expansion, urbanisation and population increases have already made Asia the key driver of global gas market growth over the past decade. So, what can be expected over the next ten years, and what investment opportunities will be created as a result?

We recently published a new 10-year investment horizon outlook for global gas based on insight from our Lens Gas & LNG data analytics solution and a country-specific outlook for China. Fill out the form to access a PDF with key insights from these reports, or read a sample below.

Global LNG prices will move lower on a wave of new supply

With limited growth in domestic production and a significant proportion of supply coming from imported liquefied natural gas (LNG), global LNG prices will be an important factor in Asian markets. Softening prices supported increased LNG demand in South and Southeast Asia in 2024, along with a return to LNG contracting in India. However, limited supply, amplified by geopolitical tensions, mean that prices will remain volatile in the short term.

Looking ahead, a wave of new supply will bring about a structural change in the global LNG market from 2026. However, risks to supply growth mean we have upgraded our expectations for average LNG prices somewhat through to 2034.

In China, a growing uncontracted demand gap in the market after 2026 will create additional opportunities for LNG sellers. Meanwhile, in Northeast Asia, despite flat overall demand, uncontracted demand will expand over time.