BAKU, Azerbaijan, June 23. As the energy transition gains momentum, natural gas consumption is expected to maintain a relatively robust position, primarily supported by factors such as coal and oil-to-gas switching, industrial applications utilizing carbon capture technologies, and specific niche transport uses, Fitch Solutions told Trend.
While facing some environmental scrutiny due to its limited emissions reduction potential compared to other low-carbon alternatives, natural gas will play a critical role if its supply can become greener, extending its influence beyond a transitional phase in the global energy landscape.
One region where natural gas demand shows notable resilience is Asia, fueled by its significant potential for coal-to-gas conversion and projected strong economic growth that will drive the need for cleaner energy sources. Asia is expected to remain an attractive market for global gas and liquefied natural gas (LNG) exports, with exporters targeting the region as a key source of demand. Over the next three decades, the role of natural gas and LNG in Asia's energy mix, particularly in the power sector, is set to expand steadily.
Asia's high potential for coal-to-gas switching, combined with its growing demand for lower-emission energy sources, positions the region as a magnet for global gas and LNG imports. As Asia continues to experience economic growth, the reliance on natural gas and LNG is anticipated to increase, serving as a pivotal component in the region's long-term energy strategy.
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