Contributed by: KovidRawat, Research Analyst, Energias Market Research & Consulting
Asia-Pacific is a fast-evolving gas market characterized by destination restriction, orthodox policies and monopolistic domestic supply infrastructure. However, the scenario is set to change as major Asian countries are liberalizing the gas policies.
The Association of South East Asian Nations (ASEAN) celebrates its 50th anniversary this year. It consists of 10 countries, with a combined GDP of US$2.8 trillion, making it the 6th largest economy in the world.
India’s oil and gas companies are increasingly turning to Mozambique as a future source of LNG supply, following a string of large natural gas discoveries since 2010 that have boosted the nation’s gas reserves to more than 170 Tcf.
China’s recent decision to raise natural gas prices for non-residential consumers – the first time it has done so since 2010 – is an encouraging sign in a nation determined to increase natural gas consumption as a way of reducing pollution.