Southeast Asia Ramps Up Gas Plant Expansion Despite Rising Prices

Despite the recent shock of rising gas prices due to the Middle East war, countries in Southeast Asia continue to build natural gas-fired power plants. According to Global Energy Monitor, there are over 100 GW in new gas-fired power generation capacity under construction across the region.

This expansion is accompanied by an increase in LNG import capacity, with around 70 GW currently being built. The think tank warns that this continued growth may deepen exposure to supply disruptions and price volatility.

Global Energy Monitor suggests that Southeast Asia could reduce its dependence on imported liquefied gas by boosting domestic natural gas production. However, this would require significant investment and time, with the outlet estimating that at least 20 fields could add around 62 bcm/y of production capacity by 2035.