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Economy

Global energy companies get drilling on booming gas demand in Asia

Investors eye smaller brownfield and expansion projects to cut costs and risk

A natural gas rig off the coast of Myanmar.

BANGKOK -- With global natural gas prices on the rise, international oil and gas exploration companies have rolled up their sleeves, aiming to drill deeper to get more gas and capitalize on the booming demand in Asia.

More upstream final investment decisions are expected in 2018-2019. The number of project greenlights worldwide has more than doubled compared to 2015-2016, according to Wood Mackenzie, a leading energy research and consulting company.

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