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(From Lloyds List)
Byline: A report predicts that the Asia Pacific region's LNG needs may hit 163m tonnes by 2015, writes Tony Gray
Demand for liquefied natural gas from Asia Pacific markets is forecast to almost double over the next decade, and supplies could be tight during the next few years.
These are two key conclusions of a new report on the Asia Pacific LNG market by the Australian Bureau of Agricultural and Resource Economics.
Demand for natural gas in this region has more than quadrupled since 1980.
With limited indigenous gas reserves in many Asia Pacific countries and few international pipelines, LNG imports have been an important source of supplies.
The report predicts that the region's LNG demand will rise from 83m tonnes in 2003 to 119m tonnes by 2010 and 150m tonnes by 2015 or to 163m tonnes under a high growth case.