Asia’s Outlook For LNG

President of Chevron Global Gas, Freeman Shaheen explains Chevron’s role in Asia’s LNG market   Worldwide, natural gas resources are plentiful, and with partnership and investment, gas can play a significant role in helping nations achieve both energy security and environmental objectives. When it comes to supply and demand, North America and Qatar will likely continue to lead the growth of LNG. Natural gas will play a key role in the long-term energy mix. For example, coal to gas switching, particularly in Asia, could help lower the carbon intensity of its energy. Gas can also help address intermittency gaps with renewable energy like wind and solar. Gas markets tightened due to the release of pent-up demand coming out of the Covid-19 pandemic, immediately followed by Russia’s invasion of Ukraine, which materially disrupted gas supply to Europe by about 80%. Future LNG demand may be impacted by factors such as what kind of winter Europe may have, to consumers being cautious and tightening their budgets from inflationary pressures or a recession.   Competing for LNG in Europe & Asia Europe and Asia are competing for LNG supply amidst growing demand,...