ISLAMABAD: Amid a modest rise in liquefied natural gas (LNG) imports by Asia, Pakistan has ranked among the top three countries in South Asia, which recorded 19% increase in imports in the year 2019.
Also notable was the LNG demand growth in South Asia. In total, Bangladesh, India and Pakistan imported 36 million tonnes, an increase of 19% over the previous year, pointing to the emerging growth of countries in Asia, according to Shell’s latest annual LNG Outlook published on Friday.
According to the outlook, global demand for LNG grew 12.5% to 359 million tonnes in 2019, a significant increase that bolstered LNG’s growing role in the transition to a lower-carbon energy system.
There was a modest rise in imports by Asia in 2019 compared to the previous two years, a result of mild weather and rising electricity generation from nuclear power in Japan and South Korea, two of the three largest global importers.
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In China, LNG imports increased by 14% in 2019 as efforts continued to improve urban air quality.
Over the long term, global LNG demand is expected to double to 700 million tonnes by 2040, according to forecasts, as gas plays a significant role in shaping a lower-carbon energy system.
Asia is expected to remain the dominant region in the decades to come, with South and Southeast Asia generating more than half of the increased demand.
The report revealed that 2019 saw key developments that were helping to reshape the industry. It noted an industry record of 40 million tonnes of additional supply becoming available and being consumed by the market.
