Southeast Asian countries are expected to be key demand drivers for the LNG market by 2030, industry watchers say.
Trade in global liquefied natural gas rose to a record in 2022, fueled largely by a surge in demand from Europe as the region moves away from relying on Russian pipelines following Moscow’s invasion of Ukraine. However, Europe’s demand for LNG is expected to recede in a few years.
Tony Regan, the Asia-Pacific gas lead from NexantECA, an energy and refining advisory, expects LNG demand from Europe to peak in 2027, before falling in 2030.
“This is where I think all the action is actually going to be: Southeast Asia, particularly Vietnam, Thailand, Indonesia,” said Regan.
Vietnam is a bright spot for the LNG market, said Regan forecasting strong growth in demand from the country over the next few years largely because of the government’s Power Development Plan 8.The plan stipulates that all coal plants must be converted to alternative fuels or retired by 2050.
“Very strong growth in demand over the next few years, because 13 of the new power plants that have been proposed on the plan are going to be LNG fired, and then another 10 also gas fired. So that’s going to create a strong pull on energy from Vietnam,” said Regan.
By 2033, Southeast Asia LNG demand is forecast to be 73 million tons per year, making up 12% of the global LNG market. This is almost a quadrupling of demand compared to 2022.
Zhi Xin Chong
S&P Global’s Head of Emerging Asia’s Gas and LNG markets
Vietnam has long been considered an important LNG growth market due to its “strong economic and population growth,” said Columbia University’s Center on Global Energy Policy. That growth is expected to spearhead demand for energy.
Vietnam’s GDP is forecast to surge from $327 billion in 2022 to $760 billion by 2030, S&P Global estimates.
The global LNG market is projected to grow from $74.60 billion in 2023 to $103.41 billion by 2028, according to forecasts by analysis and consulting firm Mordor Intelligence.
Energy giant Shell said it’s seen “tremendous growth” in the LNG market in the last two months, and highlighted three countries that will be pivotal drivers, two of which are from Southeast Asia.
“We’ve supplied three new countries, Germany, Vietnam, and Philippines, and they’re all very significant potential LNG markets,” said executive vice president for Shell Energy, Steve Hill said at the recent Gastech conference held in Singapore.
“These markets have broken the challenge of implementing LNG imports and now there’s this great growth potential,” Hill said, highlighting that these countries recently received their first cargoes, cementing more progress toward their LNG ambitions.
Likewise, S&P Global shares the optimism that Southeast Asia is poised to be a prime market for the LNG natural gas.
“By 2033, Southeast Asia LNG demand is forecast to be 73 million tons per year, making up 12% of the global LNG market,” said Zhi Xin Chong, S&P Global’s head of Emerging Asia’s gas and LNG markets. According to data provided by the analytics firm, that will mark a near quadrupling of demand compared to 2022.
The continued decline in domestic gas supply, alongside the shift from coal to gas in the power sector, will be the main drivers of the growth story, Chong told CNBC.
“The largest markets are likely to be Thailand, Malaysia, Indonesia and Singapore, given that these markets have already been importing LNG for a number of years,” he said.
However, he cautioned that demand for these markets are still fragile, and dependent on stable prices.
“It is crucial that LNG prices remain stable and global funding is forthcoming to finance the necessary infrastructure,” Chong said.
On today’s extreme episode of Quick Charge, we’ve got the most affordable new EV in America packing 255 miles of range, sub-30 minute charging, V2H support, and more – all that for a price about $10,000 LESS than that new “affordable” Tesla.
We’ve also got specs for the all-new, all-electric Ferrari Elettrica and a world’s first, hydrogen-powered autonomous farm tractor from Kubota.
Today’s episode is brought to you by Climate XChange, a nonpartisan nonprofit working to help states pass effective, equitable climate policies. The nonprofit just kicked off its 10th annual EV raffle, where participants have multiple opportunities to win their dream model. Visit CarbonRaffle.org/Electrek to learn more.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
Got news? Let us know! Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.
Momentum, the lifestyle-focused urban bike brand under Giant Group, has just launched the latest version of its popular Vida E+ electric bike – and this one’s all about making e-biking smoother, safer, and more accessible to riders of all experience levels.
The updated Vida E+ features a new 500W SyncDrive Move S motor offering 60Nm of torque and pedal assist up to 28 mph, designed to provide natural-feeling power whether you’re cruising to work or just exploring around town. The system uses a combination of sensors to analyze torque, speed, and cadence, automatically adjusting power output to match your pedaling effort.
According to Momentum, the motor engages with as little as 4Nm of pedal pressure and just 10° of crank movement, giving riders what they describe as an ultra-smooth and effortless start every time.
A new optional throttle adds another layer of convenience, letting riders cruise at speeds up to 20 mph without pedaling, which should be perfect for hills, traffic-heavy starts, or when you just want to relax and take it easy on the way home. The bike’s EnergyPak 700 battery provides up to a claimed 55 miles (88 km) of range on pedal assist or 43 miles (69 km) on throttle-only riding.
Advertisement – scroll for more content
The Vida E+ also leans hard into comfort and safety. It sports a low-step aluminum frame for easy on-and-off, an 80 mm suspension fork, and wide 26×2.4-inch tires for stability and plushness. Four-piston hydraulic disc brakes ensure solid stopping power, while a new automatic motor cutoff feature stops assistance as soon as the brakes engage. The bike is UL 2849 certified, meaning it meets top-tier safety standards for batteries and electronics, which is a growing priority in the e-bike world as more cities and states consider requiring safety certification as a prerequisite.
With support for up to 300 pounds (136 kg) total load and optional racks front and rear, the Vida E+ is also built for everyday utility. And on the tech side, momentum’s RideControl app lets riders fine-tune speed and assistance, lock or unlock the bike electronically, and monitor battery health.
VW’s US EV lease deals just went from hero to zero. Federal tax credits are now dead, the automaker has wiped out up to $12,000 in lease incentives on the ID.4, and ended $10,500 in discounts on the ID. Buzz. The move bucks the trend as other brands continue to sweeten their EV lease offers.
As of September 30, 2025, Volkswagen offered up to $12,350 in lease cash on the ID.4, depending on configuration. That included a $7,500 federal lease tax credit for lessees as Bonus Customer Cash, plus $3,500 to $4,850 in Dealer Lease Cash. It made the ID.4 one of the top EV lease deals around.
On October 1, those incentives vanished. While the ID.4 still has a 0% APR equivalent lease rate, drivers lost more than $12,000 in savings overnight. The ID. Buzz took a similar hit. Last month, the 2025 ID. Buzz offered $10,500 off MSRP between the $7,500 tax credit and $3,000 Dealer Lease Cash. Now, almost all lease cash is gone. VW Credit is offering just $750 in Dealer Lease Cash, and weirdly, not on models with two-tone paint. According to CarsDirect’s lease calculator, the lowest-priced ID. Buzz trim now carries an effective monthly cost topping $1,000 — a considerable jump.
For comparison, the ID. Buzz Pro S was previously advertised at $589 a month for 36 months with $5,999 due at signing, or an effective monthly cost of $756.
The ID.4 lease once cost just $233 a month, making it one of the cheapest EVs to lease. According to updated estimates, that figure is now north of $800 – that’s hair-raising.
Advertisement – scroll for more content
Meanwhile, VW’s rivals are going in the opposite direction. Ford extended its Mustang Mach-E lease deals through early January. Subaru’s updated 2026 Solterra still qualifies for the $7,500 lease credit, and Jeep replaced the expiring EV lease credit with equivalent bonus cash.
If you really want a Volkswagen, though, there’s some good news: financing deals haven’t changed. The 2025 ID.4 continues to offer 0% APR for 72 months, and buyers of the ID. Buzz can still get up to $3,250 in Bonus Customer Cash through November 3, a perk unavailable to lessees.
It kinda seems like VW doesn’t want to lease their EVs anymore…?? Let me know your thoughts in the comments below.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links.More.