Asia hungry for Australian LNG

ASIAN liquefied natural gas imports could jump by 85% in less than a decade, up from 34 million tonnes last year to 63MMt in 2015, according to China National Offshore Oil Corporation senior economist Zhang Weiping.

He told the conference Australia was likely to supply 39 million tonnes per annum of Asia’s LNG demand by 2015, Bloomberg reported. Other probable suppliers included Iran, Russia, Indonesia and Peru.

Speaking at the Asia LNG summit in Beijing, Zhang said Asia would increasingly become a seller’s market for LNG in coming years, a report in Energy Current noted.

Zhang predicted tight supply conditions with rapid demand growth in the emerging markets of China and India, and continuing strong demand from Japan and South Korea. Gas prices are likely to remain high, he said.

Facing huge pollution problems, China wants to triple its use of gas and LNG could supply 30 percent of the country’s total gas supplies by 2020, Zhang said.

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