Its main target market is Southeast Asia, the world's third most populous region and its fastest growing LNG demand center, with consumption due to nearly quadruple from 10.8 million mt in 2017 to 40 million mt/year by 2025, according to S&P Global Platts Analytics, driven by upstream output decline and growing consumption from the power and industrial sectors.
The region's growth potential is so significant that the end of the forecast period of structural oversupply, which is expected to extend into the 2020s, is likely, in part, to be determined by how quickly these new demand centers absorb the excess volume.
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