Abstract
This article reviews production, utilization, and trading patterns of natural gas in the ASEAN region. Prospects and constraints for future development are also examined. Analysis shows that all ASEAN countries, except the Philippines and Singapore, are endowed with vast natural gas resources. ASEAN countries account for about 4 per cent of the estimated world reserves of natural gas. ASEAN's reserve life of gas is about 67 years at the present level of production. The share of natural gas in total energy consumption has increased significantly in recent years. The most dramatic use of natural gas is in the power sector. In future, domestic utilization is expected to increase in all ASEAN countries. The prospect for substituting fuel oil by natural gas especially in power generation is very high in the region. Exports from ASEAN countries are also expected to increase but at a slower rate. The oil price crash of 1986 brought a new pricing issue to the gas trade. The lesson learnt was that contracts for the gas trade should not be rigid.
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