The Asia Pacific natural gas market: Large enough for all?
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Abstract
Among naturalgasproducingnations,therehasbeensomeconcernabouthowtheAsiaPacific willmeet future demandforenergy.Wearguethatnaturalgas,bothregionalandglobal,willplayavitalrole. Estimates ofpotentialgasconsumptionintheregionareanalyzedandusedtodevelopconsensus projections to2030.Theseconsumptionprofiles arecomparedwithgassupplyestimatesincluding indigenous, pipelineandLNGfortheAsiaPacific market.Fromthisanalyticalframework,we find that demand willbesufficiently largetoaccommodatesuppliesfromdiversesourcesincludingNorth America, theMiddleEast,CentralAsia,Russia,andtheAsiaPacific itself.Animportantpolicyimplication is thatgasproducingandconsumingnationsshouldbenefit frompromotinggastradeandnotbe concerned aboutasituationofpotentiallackofdemandcoupledwithoversupply.
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