Asia: The emerging market of natural gas
Asia is one of the biggest market of natural gas. With the tremendous economic development in the continent, the demand for a cleaner and more cost effective fuel is also set to rise. According to International Energy Agency (IEA), Asia would emerge as world’s second largest gas market in a couple of years.
This trend has already been set with China’s augmentation of usage of natural gas at a remarkable rate since 2000. The dragon land is aggressively focusing on domestic gas production to meet the nation’s enormous demand for gas.
Apart from China, the demand for natural gas from other dominant trading countries is also predicted to be hefty and many more nations from the continent are expected to join the league soon. Developing countries, including India are set to play a key role in the global energy market and provide considerable contribution in the growth of natural gas industry.
Presently India is ranked sixth in terms of energy demand. The nation’s economy is projected to grow at a rate of 7-8% in the coming decade and so would the demand for natural gas. The focus has already been shifted from importing gas to domestic exploration and production. The demand is anticipated to rise at a compound annual growth rate of 4.2% and it may tower to 1,111 billion cubic metres (bcm) by 2035 from the present level of 450 bcm.
There have been a lot of developments in the Asian gas market with prospects for more growth in the future. AGPS is one such platform that provides all the crucial information on the challenges and opportunities that lie ahead of the Asian gas market. Click on the link below to know more about AGPS and asiatic natural gas market (http://www.agps.in/new/brochure.pdf)