Asia becomes top destination for US LNG exports

摘要

Despite the global pandemic, US LNG exports grew 31% year-on-year in 2020, driven by increased exports to Asia and China during a bitter winter season. In the decade ahead, Asia, Southeast Asia and China will become primary destinations for US LNG cargoes as Europe increasingly moves towards renewables, according to a leading analyst. Poten & Partners head of Asia business intelligence Sophie Tan expects China to become the biggest player in the global LNG market in the mid-2020s, as Japan switches from gas to nuclear power and taps into the country's large offshore wind potential. While LNG demand from China will grow to 2030, its market share will remain stable at about 18%, as countries in South Asia and Southeast Asia become increasingly important gas buyers.