2021 Asia’s Gas Lock-In

The report analyzes plans for US$379 billion in new gas infrastructure across Asia, including 320 GW of power plants and 452 mtpa of LNG import capacity. It argues that this expansion would consume a quarter of the global carbon budget for a 1.5°C limit and warns that these assets may become economically unviable due to the falling cost of renewables and LNG price volatility. The author calls for a redirection of public finance away from gas to align with net-zero goals.

• Asia has plans to develop US$379 billion in new gas infrastructure, comprising US$189 billion for gas-fired power plants, US$54 billion for pipelines, and US$136 billion for LNG import and export terminals.
• The proposed 320 GW of new gas-fired power plants in Asia would nearly double the region's gas power capacity and increase global gas-fired power capacity by one-fifth.
• Asia is the primary driver of global LNG expansion, with plans for 452 mtpa of new import terminal capacity, representing 70% of the global capacity currently in development.
• If operated at full capacity, the proposed gas pipelines and LNG terminals in Asia could produce 117 gigatonnes of CO2 equivalent over their lifespans, which is 25% of the carbon budget required to maintain a 50% chance of limiting warming to 1.5°C.
• New gas infrastructure faces significant economic risks of becoming stranded assets due to the rapid decline in renewable energy costs and the volatility of global LNG spot prices.
• Public finance institutions provided US$22.4 billion for gas projects in Asia between 2014 and 2018, with the Export-Import Bank of China, Japan Bank for International Cooperation, and Asian Development Bank being the top financiers.

APA

Rozansky, R. (2021). 2021 Asia’s Gas Lock-In. Global Energy Monitor. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_AsiaGas2021_FINAL_11.pdf

Chicago

Rozansky, Robert. 2021 Asia’s Gas Lock-In. Global Energy Monitor, 2021. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_AsiaGas2021_FINAL_11.pdf.

Wikipedia

{{cite report |last1=Rozansky |first1=Robert |title=2021 Asia’s Gas Lock-In |publisher=Global Energy Monitor |date=October 2021 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_AsiaGas2021_FINAL_11.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rozansky20212021, author = {Rozansky, Robert}, title = {{2021 Asia’s Gas Lock-In}}, institution = {Global Energy Monitor}, year = {2021}, month = oct, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/GEM_AsiaGas2021_FINAL_11.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }