Natural Gas Consumption in Asia Will Continue to Outpace Supply
According to EIA’s 2019 International Energy Outlook, future growth in natural gas consumption is concentrated in developing nations—those outside of the Organization for Economic Cooperation and Development (OECD)—especially in non-OECD Asian countries. Major non-OECD Asian countries include China, India, Bangladesh, Thailand, and Vietnam. EIA expects annual natural gas consumption in non-OECD Asia to reach 120 bcf/d by 2050, outpacing regional production by 50 bcf/d. This supply imbalance widens through the projection period, resulting in non-OECD Asia’s increasing reliance on natural gas imports from other regions. Non-OECD Asian countries account for almost half of projected global natural gas consumption growth from 2018 through 2050. Natural gas consumption in non-OECD Asia is largely driven by increased economic activity stemming from higher levels of consumer demand and industrial output.