Southeast Asia's $220-B gas expansion plans to boost power/LNG capacity
- Southeast Asia has more than $220 B in projects that could raise Southeast Asia's gas-fired power capacity by more than 100 GW, doubling the current level, and raise LNG imports into the region by 80%.
Southeast Asian countries are planning to invest as much as $220 B on a rapid natural gas expansion expansion program that could slow the region's clean energy transition, research by Global Energy Monitor (GEM).
If all the planned projects go ahead, they could raise Southeast Asia's gas-fired power capacity by more than 100 gigawatts (GW), doubling the current level, and raise LNG imports into the region by 80%, according to data compiled by GEM.
"Energy demand is increasing across Southeast Asia as economies grow, but ramping up gas production is not a long-term solution," said Warda Ajaz, who runs GEM's Asia Gas Tracker project, adding much of the increased demand could be met by renewables.
Analysts estimate that more than 1,000 companies are currently building new gas infrastructure around the world. Around 65% of new gas-fired power capacity is being built in Asia. Vietnam alone has 44 GW of gas power in development, as well as 12.1 MMtpy of LNG import capacity, GEM said.
Proponents of natural gas describe it as a transition fuel that allows developing countries to generate economic growth without having to rely on dirtier and more carbon-intensive coal.
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