Asia To Triple Gas Demand, But Short Of Transport Tonnage

ASIA - Asia's natural gas demand is predicted to triple over the next three decades but according to analysts there is a shortfall of tonnage to transport the gas. As one of the fastest growing energy markets, Asia is turning to natural gas because of its cleaner environmental image. Shigeru Muraki, general manager of gas resources at Tokyo Gas, sees LNG demand rising as high as 130m tonnes by 2010. To cover the new demand, gas projects in the Atlantic Basin are anticipated to increase overall natural gas volume, while projects in Asia and the Middle East are expected to cover short-term demand. However, research shows that, despite an influx of new orders, there will still be a significant dearth of LNG carriers to move the gas to the areas where there is extra demand. Denholm Ship Management said: "The increase in demand for LNG shipping capacity will be satisfied to a great extent by a significant number of newbuild programmes. However, it is widely recognised that there will be a shortfall of about 60 vessels during the next 10 years."