LNG shipments shift to India, Southeast Asia as European demand sags

Extreme heat, lower prices and decarbonization push drive regional uptick

Demand for LNG is growing in Asia as countries work to curb greenhouse gas emissions while keeping up with surging energy demand. (Photo by Konosuke Urata)

YUTA KOGA, Nikkei staff writer

August 17, 2024 02:01 JST

TOKYO -- More exports of liquefied natural gas are heading to India and Southeast Asia as soaring temperatures and a push toward decarbonization stoke demand for cheaper, lower-emissions fuel.

LNG trade flows to India and the rest of South Asia increased 9% on the year to 33.27 million tonnes in 2023, data from LSEG shows. The figure is on pace to grow in 2024 as well, with the January-July tally coming to 23.06 million tonnes.