Asia’s LNG Plans

Asia is currently developing 442 million tonnes per annum (mtpa) of new LNG import capacity, representing a US$119 billion investment. While driven by growing energy demand, these plans face a 'fork in the road' due to extreme price volatility caused by the European energy crisis and the falling cost of renewable energy. China leads the regional buildout, accounting for nearly half of Asia's planned capacity. The document warns that this infrastructure could lock economies into fossil fuel reliance, contradicting global 1.5°C warming targets.

• Asia is the primary global hub for new LNG import infrastructure, hosting 65% of the world's new import terminals currently under development.
• Asia has 442 million tonnes per annum (mtpa) of new LNG import capacity in various development stages, requiring an estimated investment of US$119 billion. This capacity is theoretically sufficient to absorb the entire global LNG trade from 2021.
• China is the most active country in the region, with projects totaling 214.9 mtpa and an estimated cost of US$72.1 billion, which is nearly half of all developing import capacity in Asia.
• The European energy crisis has severely disrupted the Asian LNG market, leading to record-high spot prices in August and forcing countries like Bangladesh and Pakistan to face rolling blackouts after being priced out of the market.
• High costs and poor economics are causing some Asian nations to delay or drop LNG projects, with the IEA reporting a deteriorated outlook for floating terminal projects in South and Southeast Asia through 2025.
• Renewable energy is now more cost-effective than fossil fuel alternatives in China, India, Thailand, and Vietnam; solar energy alone saved seven Asian countries US$34 billion in potential fossil fuel costs during the first half of 2022.
• The continued buildout of LNG infrastructure is identified as a risk to climate goals, as the IPCC states that new fossil fuel investments make it difficult or impossible to avoid dangerous climate change.

APA

Global Energy Monitor (2022). Asia’s LNG Plans. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Asia-LNG-Update-2022-Briefing_11.pdf

Chicago

Global Energy Monitor. Asia’s LNG Plans. 2022. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Asia-LNG-Update-2022-Briefing_11.pdf.

Wikipedia

{{cite report |author=Global Energy Monitor |title=Asia’s LNG Plans |date=December 2022 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Asia-LNG-Update-2022-Briefing_11.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalenergymonitor2022asias, author = {{Global Energy Monitor}}, title = {{Asia’s LNG Plans}}, institution = {Global Energy Monitor}, year = {2022}, month = dec, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-Asia-LNG-Update-2022-Briefing_11.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }