IEA sees Asean members as buyers in global gas trade

THE next five years will bring a reshaping of the global gas trade, the International Energy Agency (IEA) said June 8 in its 2016 Medium-Term Gas Market Report.  “New liquefied natural gas [LNG] supplies are coming on line just as demand growth in some major markets weakens, resulting in major shifts in global gas-trade patterns. A weak outlook for Japan and Korea—the world’s top 2 LNG buyers—means that new supplies will need to find other markets. China, India and Association of Southeast Asian Nations [Asean] countries will emerge as key buyers,” said the report published on IEA web site on June 8.  Birol added that the combined factors of cheaper coal and continued strong renewables growth were blocking gas from expanding more rapidly in the power sector.  Read more here.  

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