Equity & Credit Research

Duncan Chan

Equity and credit research focused on value chains and capital structure. Experience across traditional metals, materials, advanced materials and industrial cyclicals. Built to Endure.

Thematic (Sector/Industry)

Macau Oil, gas and consumable fuels / Thematic (Sector/Industry)

<ul>
<li>Asian LNG demand is forecast to fall 3–10% in 2026, its second consecutive decline, as high prices accelerate switching to coal, nuclear and domestic gas.</li>
<li>September Asian LNG imports are expected at 20.1 million tonnes, an eight-year seasonal low, even as buyers continue securing long-term supply and import capacity.</li>
<li>The market is shifting from LNG dependence to optionality, favouring low-cost, flexible supply over capacity reliant on continuously rising Asian utilisation.</li>
</ul>


Asian LNG demand is forecast to fall 3–10% in 2026, its second consecutive decline, as high prices accelerate switching to coal, nuclear and domestic gas.
September Asian LNG imports are expected at 20.1 million tonnes, an eight-year seasonal low, even as buyers continue securing long-term supply and import capacity.
The market is shifting from LNG dependence to optionality, favouring low-cost, flexible supply over capacity reliant on continuously rising Asian utilisation.


Asia’s Energy Security Push From LNG Dependence to Optionality