On the back of surging LNG growth in Japan, South Korea, China, India and Taiwan, Australian resource giant BHP Billiton has projected that demand for LNG in Asia will double by 2015.
BHP president and CEO Philip Aiken made this prediction at an oil and gas conference being held in Singapore. He believes that demand in the traditional main markets is continuing its level of growth but it is the fact that China and India are emerging as major consumers that will help fuel the expansion in demand.
Aiken also feels that this rising demand is expected to result in fiercer competition on the supply side, which could, in turn, result in lower prices and margins.
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