(TheIndoDaily.com) – The decision of the newly installed US President Donald Trump to resume US LNG exports has been welcomed by the global market players, particularly in Asia.
President Trump’s decision will enable key projects to proceed and give decision-makers and policymakers in Asia the certainty they require to make long-term energy decisions.
The resumption of LNG export approvals in the United States is a positive step for Asia’s energy future, the Asia Natural Gas and Energy Association (ANGEA) says.
ANGEA CEO Paul Everingham said natural gas had a critical role in providing an alternative source of energy security and power generation for the most coal-reliant region on the planet.
As the world’s largest exporter of LNG, the United States can make significant, long-term contributions to decarbonizing the energy systems of Asia.
“The resumption of US LNG export approvals is welcomed by every country in Asia,” Everingham said.
“A recent study by Wood Mackenzie, commissioned by ANGEA, found that Asia’s LNG demand would nearly double between now and 2050, driven largely by significant growth in demand from South and Southeast Asia.
“The study also forecast that the United States would make up a third of global LNG supply by 2035,” he said.
“However, both LNG demand growth from emerging Asia and the ability of the US to meet it, were contingent on the “pause” being lifted and sufficient US supply being available in coming decades to moderate global prices and ensure that LNG was affordable for nations in South and Southeast Asia.
Emerging economies in Asia are seeking to switch out high-emitting coal use for more gas-fired power as they pursue sensible and well-planned growth in renewable energy sources.
“The resumption of LNG export approvals in the US will help make this a reality,” he said. (RK)