Asian demand for natural gas is set to drive growth in the LNG industry for “decades to come”, even as the world reduces its dependence on hydrocarbons, one of the biggest US exporters of the fuel has predicted.
Anatol Feygin, chief commercial officer of Cheniere Energy, said the company expected to approve a $7bn expansion to its liquefied natural gas facility in Texas next year to meet surging demand for LNG cargoes in China and Japan that have pushed gas prices to record highs.
“We think that Asia is the growth driver for our industry for LNG demand for decades to come, and China is the single biggest piece in that,” Feygin said.
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