ABSTRACT
The global consumption of natural gas is predicted to increase by 38 per cent by 2035, and in the Asian region by as much as 94 per cent (IEA, 2010a). This increase is driven both by the growing demand for energy and the decreasing price of natural gas relative to crude oil. According to the BP Statistical Review of World Energy 2013 (BP, 2013), the price of liquefied natural gas (LNG) to Japan fell below that of crude oil from 2003 onwards. The growing environmental concern has also pushed many Asian economies to switch to natural gas. Total natural gas trade in Asia is predicted to boom.
