LNG Demand Outlook Shifts in Southeast Asia Amid Data Center Boom
As Southeast Asia's data centers are being built at an increasing rate due to the AI boom, the region's LNG demand outlook is set to change. According to WoodMac, the countries of Singapore, Malaysia, Indonesia, India, and Thailand will need additional LNG imports through 2035 as domestic natural gas output peaks.
The data centers are being built in these five countries, which have a total of 7 LNG liquefaction facilities out of 13 in Asia. Furthermore, there are 26 LNG terminals in the region: 6 planned, 2 under expansion, and 3 under construction.
China is dominating the market when it comes to LNG terminals and buildouts in Asia, with a total of 54 terminals: 16 under construction and 6 under expansion. This accounts for 35% of all LNG terminals in Asia, followed by Southeast Asia at 17%.