Around $160bn worth of gas-fired power and liquefied natural gas (LNG) import capacity remains in development across Southeast Asia.
The projection from Global Energy Monitor (GEM) comes despite supply disruptions in the Strait of Hormuz that have driven up prices and prompted governments and developers to reconsider their exposure to imported gas.
The report found that more than 100 GW of gas-fired power capacity remained in development in the region, with the overall scale of planned projects staying above 100 GW despite individual developments moving in and out of the pipeline. Meanwhile, LNG import capacity in development has increased from approximately 47 million tonnes per annum (mtpa) in 2024 to around 70 mtpa, raising concerns about the region’s growing exposure to supply disruptions and price volatility.
Domestic gas production could provide some countries with a buffer against tightening global LNG markets, but GEM said it would not eliminate Southeast Asia’s reliance on imported supplies. The organisation identified at least 20 gas fields that could add approximately 62 billion cubic metres per year of production capacity by 2035, although developing new supply takes time and does not guarantee that the gas will reach domestic power markets.
“Conflict in the Strait of Hormuz is stress-testing Southeast Asia’s plans for gas expansion, but its effects are not playing out uniformly across the region,” said Global Energy Monitor, project manager of the Asia Gas Tracker, Warda Ajaz. “While some countries appear to be moving away from gas, others seem to be pressing ahead.” She added that the disruption had exposed vulnerabilities in the assumptions behind the region’s gas expansion, noting that import capacity does not guarantee secure LNG supply, access to LNG does not guarantee affordability, and domestic gas provides a meaningful buffer only where sufficient supply is already available.