Japan and South Korea are considering investing in a long-delayed US$44 billion liquefied natural gas (LNG) export project in Alaska backed by US President Donald Trump, while Bangladesh, India, Vietnam and the Philippines are likely to strike US LNG deals, according to observers.
Asia is the most exposed region globally to the risk of fossil fuel dependency that strains budgets and adds carbon emissions, according to a report by energy think tank Ember. About a quarter of the world’s countries spent more than 5 per cent of their gross domestic product on annual fossil imports in 2022.
Rapidly improving technology such as electric vehicles, heat pumps and renewables could slash fossil fuel imports to Asia by up to 70 per cent, the report said.
Experts say Asia’s clean-energy sector can weather tariff impacts, despite short-term disruptions, through regional cooperation and establishing trade routes outside the US.
