Demand for energy will grow 70 percent in the ASEAN region between 2017 and 2030, with coal power generation to rise 80 percent in response, the fastest rate for a region in the world, according to the International Energy Agency.

LNG, however, is taking coal head-on in the region that is expected to become a major gas consumer over the next decade. LNG has become increasingly attractive with prices falling to a three year low of US$4 per million British thermal units in April. Behind falling prices is a glut in supply.

Global demand for LNG in the last 12 months rose 8.5 percent to 380 million tons, with further demand expected to add 167 million tons by 2030, according to the Nikkei Asian Review.

Asia is forecast to drive 86 percent of that growth, with the ASEAN region expected to account for 44 million tons, behind India at 61 million tons and China at 53 million tons.

Thailand became the first ASEAN member state to import LNG in 2011 and in 2017 imported 3.95 million tons, 30 percent more than the previous year. State-owned enterprise PTT has set aside $4 billion for developing pipelines and LNG terminals, designating a major investment to diversify away from coal.

Vietnam, where energy demand has been growing 10 percent a year, will exhaust its most productive gas fields by 2020. SOEs PetroVietnam and Petrolimex will open the country’s first LNG import terminals in the southern provinces of Thi Vai and Khan Hoa respectively.

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