Southeastern Asia can approve the most gas projects in a decade

(Bloomberg) – Southeast Asia this year could see the largest number of final investment decisions on gas projects in a decade, which, according to the Global Energy Monitor, could possibly increase production by 18%. As many as 13 new gas projects could be financed in 2025, contributing to the one already approved this year, researchers said in a report published on Wednesday. According to the research home, more than 20 billion cubic meters of annual production capacity can be added. Southeast Asia, home to more than half a billion people, remains stubborn to fossil fuel, which raises doubts about countries’ ability to meet phase timelines due to financial bottlenecks and the global commitment to climate change. The region is also likely to miss its renewable energy production goal of 23% by the end of the year. Between 2020 and 2024, Southeast Asia approved only ten projects, according to the data of AV, which indicates that fossil fuel financing could accelerate this year. The units, based in Indonesia, Malaysia, Vietnam, Brunei and Myanmar, are aimed at raising gas development throughout the region, making it more difficult for countries to switch to cleaner energy sources. “Since companies and countries are unlikely to abandon the development of gas until reserves are fully depleted,” the researchers said in the report, “these developments would have a significant lifetime and will include gas in the gas as a material component of the region’s energy mix.” Final investment decisions on such projects still have a history of delays, so it’s hard to predict whether they will all be rolled out, Gem said. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP first published: 30 Apr 2025, 06:07 am Ist