Report: Billions in Asian LNG projects scrapped or stalled

The IEEFA reports that $67.8 billion worth of projects in four Southeast Asian countries have been cancelled or stalled due to high costs.

According to reports by OilPrice and UA.NEWS, nearly half of all proposed LNG-to-power projects in the Philippines, Vietnam, Thailand, and Bangladesh have been scrapped or stalled since 2021. The Institute for Energy Economics and Financial Analysis (IEEFA) stated in a new report that these halted projects represent $67.8 billion in planned investment. The organization attributes the move to surging costs that have created significant financial risks for project developers and lenders, forcing a reevaluation of $109 billion in proposed initiatives.