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Southeast Asia LNG Market Size (2024 - 2029)

The Southeast Asia LNG market is anticipated to experience significant growth, driven by the increasing demand for gas power generation and the expansion of LNG-fueled fleets. Despite challenges such as LNG oversupply and trade tensions, the market has rebounded to pre-pandemic levels and is poised for further development. The region is expected to see numerous LNG regasification projects, creating opportunities for market participants. Singapore is projected to be the largest market due to its rising natural gas consumption, contributing to the overall expansion of the LNG market in Southeast Asia.

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Market Size of Southeast Asia LNG Industry

Southeast Asia LNG Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 8.00 %
Market Concentration Medium

Major Players

Southeast Asia LNG Market Major Players

*Disclaimer: Major Players sorted in no particular order

Southeast Asia LNG Market Analysis

The Southeast LNG market is projected to register a CAGR of over 8% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.

  • Increasing demand for gas power generation and a rising number of LNG-fueled fleets are expected to drive the Southeast Asian LNG market during the forecast period.
  • However, LNG oversupply and trade tension is expected to hamper the market growth during the forecast period.
  • A high number of LNG regasification projects/development plans are expected to be proposed in upcoming years, underpinned by the growing LNG demand, leading to the creation of several opportunities for the market players, thus, making an emerging LNG market.
  • Singapore is expected to be the largest market during the forecast period owing to the increasing natural gas consumption in the region.

Southeast Asia LNG Industry Segmentation

LNG is natural gas that has been cooled to a liquid state, at about -260° F, for storage and shipping. The volume of natural gas in its liquid form is about 600 times smaller than in its gaseous state. This process makes it possible to transport natural gas to places pipelines do not reach. The LNG market is segmented by LNG infrastructure and LNG trade. By LNG infrastructure, the market is segmented into LNG liquefaction plants, LNG regasification facilities, and LNG shipping. The report also covers the market size and forecasts for the LNG market across major regions. for each segment, the market sizing and forecasts have been done based on revenue (USD million).

LNG Infrastrucutre
LNG Liquefaction Plants
LNG Regasification Plants
LNG Shipping
Geography
Singapore
Indonesia
Thailand
Malaysia
Others
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Southeast Asia LNG Market Size Summary

The Southeast Asia LNG market is experiencing a robust growth trajectory, driven by increasing demand for gas power generation and the expansion of LNG-fueled fleets. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19, and is poised for significant expansion over the forecast period. Despite challenges such as LNG oversupply and trade tensions, the region is witnessing a surge in LNG regasification projects, creating numerous opportunities for market players. Singapore is anticipated to emerge as the largest market, fueled by its strategic initiatives to become a global LNG trade hub and its substantial natural gas consumption.

The liquefaction sector is expected to dominate the Southeast Asia LNG market, with countries like Malaysia, Indonesia, and Singapore leading in operational capacity. Indonesia, in particular, is seeing significant capacity expansions, with major projects like the Abadi mega-project set to drive future growth. Singapore's strategic location and its role as a global leader in marine shipping are expected to bolster its LNG business, especially with the rising demand for LNG as a marine fuel. The country's initiatives in LNG bunkering and transportation further underscore its commitment to enhancing its LNG infrastructure and meeting environmental regulations. The market is moderately consolidated, with key players such as Petronas, Singapore LNG Corporation Pte Ltd, and others playing pivotal roles in shaping the industry's landscape.

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Southeast Asia LNG Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 LNG Infrastrucutre

      1. 2.1.1 LNG Liquefaction Plants

      2. 2.1.2 LNG Regasification Plants

      3. 2.1.3 LNG Shipping

    2. 2.2 LNG Trade

    3. 2.3 Geography

      1. 2.3.1 Singapore

      2. 2.3.2 Indonesia

      3. 2.3.3 Thailand

      4. 2.3.4 Malaysia

      5. 2.3.5 Others

Southeast Asia LNG Market Size FAQs

The Southeast Asia LNG Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)

Petronas, Singapore LNG Corporation Pte Ltd, JGC Holding Corporation, PTT LNG Co Ltd and PT PGN LNG Indonesia are the major companies operating in the Southeast Asia LNG Market.

Southeast Asia LNG Report Snapshots

Southeast Asia LNG Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)