In its 2019 Energy Insights article "Global Gas & LNG Outlook to 2035 report," McKinsey underscored a recap of trends, focused discussion on gas demand, gas supply, LNG outlook and infrastructure, and business models.
McKinsey highlighted China's emergence as the world's largest gas/LNG importer, overtaking Japan and second-largest LNG importer, overtaking South Korea. The report also underscored that 76 million tonnes per annum (mtpa) of LNG-related infrastructure became operational, and that the LNG industry registered an all time high volume of collective action projects taking final investment decisions (FIDs)(8 projects at approximately 84 mtpa).
McKinsey established that gas is the only fossil fuel that is expected to grow continuously to 2035, and wherein Asia is to remain the engine for growth in gas demand with growth expectation of 2.1% per annum between 2018 - 2035. The Mckinsey report went on to further underscore that China, ASEAN, and South Asia will account for more than 95% of global LNG demand growth until 2035.
VIHK's approach is to play an active role in the advancement and build up of facilities in the relevant LNG demand growth centers such as South East Asia amid declining local supply and strong demand profiles.