Since the start of the Trump Administration, numerous Asian countries have expressed interest in buying US LNG to fend off tariffs, diversify supplies, and narrow trade deficits with the US.
This week Japan, India, and Taiwan, and Bangladesh have made headlines with government officials and companies announcing talks to secure U.S. LNG agreements in the form of both bilateral policy agreements and by private company deals.
India and South Korea in particular have aimed to increase the percentage of LNG in their power generation mixes by 2030, while Vietnam and the Philippines have both signed infrastructure projects to support LNG imports in the past year, including LNG-to-power plants and import terminals which they hope to be online by 2030.
Going forward, Asia will continue to develop LNG import infrastructure and may even serve as a substitute for Europe as a demand-center for U.S. LNG in the 2030s as the EU shifts towards renewables.
Source: Gelber & Associates
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