Developing Asian Nations Reduce LNG Imports Amid High Costs
· Business · Moneycontrol, Business Standard
Developing nations across Asia are scaling back their consumption of liquefied natural gas as global prices remain elevated. The shift follows a period where these countries faced a combined $7 billion bill for gas imports, forcing a move toward cheaper, alternative energy sources. Nations such as Pakistan and Bangladesh have increasingly turned to fuel oil and coal to meet power generation demands. This transition is driven by the financial strain of securing spot-market cargoes at volatile prices. The trend reflects a broader struggle among emerging economies to balance energy security with limited foreign exchange reserves.
Why it matters
The pivot away from LNG increases reliance on carbon-intensive fuels like coal and oil in South Asia, potentially complicating regional climate goals and heightening exposure to global commodity price shocks.
Read the original report — Moneycontrol
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