Southeast Asia expands LNG import and gas-fired power projects despite market volatility

According to a Global Energy Monitor study released on September 24, Southeast Asia is markedly increasing its LNG import infrastructure and gas-fired power generation despite high spot prices linked to Middle East tensions and a force-majeure notice from QatarEnergy. The region is committing roughly $160 billion to new pipelines, import terminals and power plants, aiming to develop more than 100 GW of gas-fired capacity.

Although a portion of planned LNG capacity has been paused or cancelled, Vietnam’s state-run PV Gas is pursuing a five-year contract for 250,000-450,000 tpy of LNG deliveries starting in January. The Philippines has held talks with Malaysia’s Petronas and has already purchased spot cargoes from the Bintulu terminal in Sarawak to reduce its reliance on coal. Indonesia’s government has also formalised a cross-border agricultural agreement, underscoring broader regional energy and infrastructure cooperation.