Trends in Development of the Gas Industry in the Pacific Rim

Abstract

This study aims to analyze the gas industry market in the Pacific Rim. Aim. This study is aimed at assessing the capability of the gas industry to cater to the domestic demand. Tasks. This study evaluates the resource potential of the Pacific Rim, its production capacity, volume, and structure of domestic consumption. Methods. This study uses general methods of scientific cognition, in particular, to examine gas demand and supply behavior in the Pacific Rim in various aspects. Results. The Pacific Rim combines two major segments of the gas industry: conventional gas and LNG. Despite the region’s rather extensive resource potential, an unprecedented growth of demand for gas and the ensuing increase in production volume impose a significant burden on the gas industry in the region. Conclusion. The analysis of the gas industry in the Pacific Rim suggests possible further development of the gas market in the region and identifies factors having a decisive impact on its development.