Southeast Asian Nations Increased LNG Import Capacity
The region has expanded its infrastructure for liquefied natural gas, requiring operators to navigate higher spot market prices.
Updated on Sept. 27, 2026 in Oil and Gas
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Southeast Asian nations increased their liquefied natural gas import capacity to 70 million tonnes per year, up from 47 million tonnes in 2024. This infrastructure expansion supports over 100 GW of gas-fired power generation capacity currently under development across the region.
Why it matters
The shift toward gas-fired power, driven by efforts to reduce coal reliance in countries like the Philippines, has tightened regional supply. This transition has contributed to Asian LNG spot market prices reaching a five-month high in September 2026.
Regional LNG import capacity reached 70 million tonnes per year, a significant rise from 47 million tonnes per year in 2024. Despite this growth, Global Energy Monitor notes that $160 billion in project investment exists alongside 65 million tonnes per year of capacity that has been paused.
The players
QatarEnergy
A state-owned petroleum company and one of the world's largest suppliers of liquefied natural gas.
Petronas
A global energy corporation based in Malaysia that manages extensive upstream and downstream LNG operations.
Global Energy Monitor
A non-profit research organization that tracks energy project data and provides analysis on global infrastructure development.
PV Gas
The state-run gas utility in Vietnam responsible for developing the nation's natural gas infrastructure and supply chains.
The details
Nations are actively securing infrastructure to transition away from coal-fired generation, as evidenced by the Philippines' recent spot market purchases from the Bintulu export terminal. Meanwhile, Vietnam is seeking five-year supply contracts for up to 450,000 tonnes per year of LNG to feed its growing capacity. These moves follow a period of supply disruption, including a force majeure declaration by QatarEnergy on certain deliveries that remains in effect until mid-October 2026.
Timeline
Regional LNG capacity grew from 47 million tonnes per year in 2024 to 70 million tonnes currently.
Asian LNG spot market prices hit a five-month high in September 2026.
The Philippines engaged in supply talks with Petronas in mid-September 2026.
QatarEnergy force majeure on Asian deliveries expires in mid-October 2026.
Vietnam requests new LNG contract deliveries to commence in January 2027.
Market Landscape
The push for expanded import capacity follows a broader regional trend tracked by Global Energy Monitor regarding the pivot toward gas-fired power. This rapid infrastructure build-out marks a significant departure from previous reliance on coal and signals a long-term shift in regional energy demand.
Operators in power-intensive industries should anticipate continued volatility in LNG spot prices as regional demand outpaces supply. Businesses should review long-term energy contracts before January 2027 to mitigate risks associated with the upcoming influx of new gas-fired power capacity.
The takeaway
The surge in Southeast Asian LNG import capacity demonstrates that regional energy demand remains resilient despite price volatility and project pauses. Operators should monitor the mid-October 2026 expiration of force majeure declarations, as this will likely impact supply availability and regional pricing benchmarks.
Further reading
For more on shifting energy procurement strategies, read our coverage of the Oil and Gas sector.
Source note: This article includes information reported by Intellinews.
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