Asia Drives Gas and LNG Industry Growth Amidst Renewable Energy Integration

Natural gas and liquefied natural gas (LNG) have emerged as key growth markets for the fossil fuel industry, driven by rising electricity demand, renewable energy integration, and government support.

Asia dominates global gas-fired power generation capacity, with over 950,000 megawatts currently in operation and an additional 140,000 MW under construction.

The US has the largest operating gas-fired capacity, while China has the most capacity under construction. Asia also leads in LNG export infrastructure, thanks to hefty export facilities stretching from the Middle East through Southeast Asia.

However, Asia's LNG import infrastructure is also significant, with over 66% of existing import capacity and nearly 70% of import capacity under construction. Japan has the most existing import infrastructure, but China has a sizeable lead in import capacity under construction.