Rising demand from emerging economies reshapes global LNG market

SHANGHAI -- Global natural gas market is undergoing substantial changes, as gas demand is increasing at a rapid pace driven by emerging economies, such as China and India, according to industry observers.

At the ongoing 19th International Conference & Exhibition on Liquefied Natural Gas (LNG) held in Shanghai, industry experts widely hold that rising LNG supply and demand is injecting dynamism into the market.

EMERGING ECONOMIES DRIVE UP DEMAND

"Natural gas is playing a crucial role in global energy transition. As an efficient and clean fossil fuel, natural gas is considered as an important 'bridge energy' toward low carbon world," said Yang Hua, board chair of China National Offshore Oil Corporation, the largest offshore oil and gas producer in China.

As countries around the world are pushing ahead with energy transition policies to reduce carbon emissions, many institutions forecast that the global LNG demand will continue to rise.