Australia eyes emerging LNG markets like India, Vietnam

Australia eyes emerging LNG markets like India, Vietnam

Sydney, 24 February (Argus) — Australia plans to target emerging LNG markets India, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Bangladesh over the next 30 years and sees scope for more spot sales to European buyers seeking to diversify gas supply sources.

"We have identified seven emerging markets where Australia has the greatest opportunity to strengthen LNG trade," the Australian government's Department of Industry, Science, Energy and Resources said in its new Global Resources Strategy Commodity Report: LNG.

"Combined, these markets are expected to grow their LNG demand from 40mn t in 2020 to 255mn t in 2050," the report said. As well as increased LNG exports, there are opportunities for Australian participation along the entire LNG value chain in these markets. Opportunities include designing and constructing LNG import terminals and domestic gas distribution network, financing emerging LNG industries, operating gas production and LNG import facilities, and decommissioning retiring gas production facilities and restoring the environment, the report added.