Asian liquefied gas markets.
India has overtaken South Korea as the second-largest buyer of spot and short-term cargoes of liquefied natural gas (LNG), with the percentage of its LNG imports from such cargoes -- based on contracts of four years or less -- rising by 45% in 2015 over 2014. With global gas prices likely to remain low through to 2020, transforming what was a seller's market only two years ago into a buyer's market, a structural shift is underway in the demand for imported LNG in South and East Asia.
The pipeline of new LNG supplies that will be added to the market in the next few years will ensure a buyer's market through to 2020.
A persistently low global price could see Asian buyers opting for smaller volumes and shorter contracts for LNG imports.
Sustainability of demand growth in new markets such as India will depend on the speed of expansion of infrastructure.
