2023 年天然氣過剩：全球天然氣發(fā)電擴張繼續(xù)阻礙能源轉(zhuǎn)型

GasGlut

GLOBALGASPOWEREXPANSION

CONTINUESTOTHWARTENERGYTRANSITION

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Global

Energy

Monitor

ABOUTGLOBALENERGYMONITOR

GlobalEnergyMonitor(GEM)developsandshares

informationinsupportoftheworldwidemovementforcleanenergy.Bystudyingtheevolvinginternational

energylandscapeandcreatingdatabases,reports,andinteractivetoolsthatenhanceunderstanding,GEM

seekstobuildanopenguidetotheworld’senergysys-tem.Followusat

andonTwitter

@GlobalEnergyMon

.

ABOUTTHEGLOBALOILANDGASPLANTTRACKER(GOGPT)

TheGlobalOilandGasPlantTracker(GOGPT)isanonline

databasethatidentifiesandmapseveryknownoil-and

gas-firedgeneratingunitandeverynewunitproposedsinceJanuary1,2020(20MWandlargerintheEuropeanUnion

andUnitedKingdom,50MWorlargerelsewhere).DevelopedbyGlobalEnergyMonitor,thetrackerusesfootnotedwiki

pagestodocumenteachplantandisupdatedbiannually.Forfurtherdetailsseethetracker

landingpage

and

methodology

overview.

ABOUTTHECOVER

ThecoverimageisamapcreatedbyScottZimmermanofoperatingglobaloil-andgas-firedpowerplants.

EDITING,PRODUCTION,ANDOTHERCONTRIBUTIONS

DesignandpagelayoutbyDavidVanNess.MapsandfigurescreatedbyScottZimmermanandNassosStylianou.EditingcontributionswereprovidedbyJulieJoly,DavidHoffman,andStefaniCox.

ACKNOWLEDGMENTS

Theauthorswouldliketothankalloftheresearcherswhocontributedtothedevelopmentofthisdatasettoenablethisreportandanalysis—GregorClark,AmaliaLlano,ChristineJuta,NorahElmagraby,NagwaAbdallah,NataliaSidorovska-ya-Fretz,ZhanaiymKozybay,ChengChengWu,Xiaojun

Peng,HarveyHassan,WillLomer,andWardaAjaz.

PERMISSIONS/COPYRIGHT

Copyright?GlobalEnergyMonitor.DistributedunderaCreativeCommonsAttribution4.0InternationalLicense.

FURTHERRESOURCES

Foradditionaldataonproposedandexistingoilandgasplants,see

SummaryTables

ontheGEMwebsite.ToobtainprimarydatafromtheGOGPT,visitthe

DownloadData

page.

AUTHORS

JennyMartos(ProjectManagerGOGPT),WardaAjaz

(ProjectManagerAsiaGasTracker),GregorClark(Project

ManagerPortalEnergéticoparaAméricaLatina),Norah

Elmagraby(researcher),HarveyHassan(researcher),

ChristineJuta(ProjectManagerAfricaGasTracker),and

NataliaSidorovskaya-Fretz(researcher).

2023

2022

Announced

Pre-construction

Construction

GlobalEnergyMonitor

GasGlut2023

GLOBALGASPOWEREXPANSIONCONTINUESTO

THWARTENERGYTRANSITION

JennyMartos,WardaAjaz,GregorClark,NorahElmagraby,HarveyHassan,ChristineJuta,andNataliaSidorovskaya-Fretz

INTRODUCTION

Oilandgashavehadabigyear.Oil-andgas-fired1

powerplantsindevelopment—projectsthathavebeenannouncedorareinthepre-construction2andcon-

structionphases—increased13%inthelastyearto783gigawatts(GW),mainlydrivenbyincreasesincapacityofprojectsinthepre-constructionandconstructionphases.(Figure1)

Ifbuilt,theseprojectswouldgrowtheglobaloilandgasfleetbyathirdatanestimatedcostofUS$611

billionincapitalexpenditure,creatingalifetime

emissionspotentialequivalenttomorethansixandhalfyearsoftheUnitedStates’emissions.

Drivenbyconcernsoverenergysecurityandpromisesofadurabletransitionfueltodecarbonizeeconomies,countriesaroundtheworldaredevelopingoilandgas,mostnotablyinAsiaandtheUnitedStates.Russia’s

warinUkrainehaschangedthecalculusforEuropeintermsofitsenergysupplychoices,whileinplaceswithextensiverenewablespotentialandcompara-

tivelysmallerfossilfuelssectorslikeAfricaandLatin

Figure1.Changesinoilandgascapacityindevelopment,mid-2022tomid-2023.

Globaloil&gaspowerpantcapacityindevelopmentingigawatts(GW),mid-2022tomid-2023

0GW100GW200GW300GW

Source:GlobalOilandGasPlantTracker,GlobalEnergyMonitor

1.GEMhistoricallyhastrackedgasanddualfuel(ie:gas/oil,gas/coal,gas/bioenergy)powerplantsintheGlobalGasPlantTracker(GGPT).IntheexpandedandrenamedGlobalOilandGasPlantTracker(GOGPT),GEMisnowincludingoil,dualfuel(withgasoroil),andgasfiredpowerplants.2.Pre-constructionprojectsincludethosethatareactivelymovingforwardinseekinggovernmentalapprovals,landrights,orfinancing.

GLOBALENERGYMONITORREPORT|SEPTEMBER2023|3

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AmericaandtheCaribbean,plansforoilandgasplantsaregainingafoothold.

Butithasalsobeenabigyearforextremeweather

events.Duringthese

critical

momentswhenenergyhasbeenneededthemost,fossilfuelgenerationhasattimes

failed

.FromfatalpoweroutagesintheU.S.duringthewinterArcticblaststorisingtemperaturesacrosstheMiddleEast

buckling

gasturbines,variableweatherpatternsbroughtonbyachangingclimate

haveupendednotionsoffossilfuel’sreliability.

Atthesametime,gas’reputationasacleanertransi-tionfuelcontinuestounravel,asitssignificantcon-tributiontoclimatechangeduetomethaneleakagesatextractionandtransportationbecomesbetter

understood.

Bysomeestimates,

methaneleakage

aslowas0.2%putsgas’climateimpactonparwithcoal,andthe

actualleakageratesrangefrom

3.7%

to

9%

or

higher.

It’snosurprisethenthat150countries,representingnearlyhalfofglobalmethaneemissions,havesigned

goalof

Againstthisbackdrop,the

call

fromtheinternationalscientificcommunitytostopanynewconstructiononfossilfuelinfrastructureinordertolimitplanetary

warmingto1.5°Cbecomesmoreurgent.

Expandingoilandgascapacityrepresentsacostly

strandedassetrisk

whilealsodivertingresourcesawayfromtheenergytransition,whichbysome

estimatescallsfor

tripling

installedrenewable

powercapacityby2050.Coupledwiththerapidly

declining

costofrenewablesandbatterystorage,aswellastheincreasedvolatilityofgasprices,amoveawayfromgastowardcleanenergyhasneverbeenmoreattractive.

EXPANDINGTHEGLOBALOILANDGASPLANTTRACKER

InAugust2023,GlobalEnergyMonitor(GEM)releaseditsfirstdatasetforthenewlyrenamedandexpandedGlobalOilandGasPlantTracker(GOGPT).Thisexpansionnowincludesoil-firedpowerplantsaswellasplantsthatuseinternalcombustion(IC)technology.Whilethisexpansionmarksadefinitivechangeintheinclusioncriteriaofthedatacollected,globaloil-firedpowergenerationgener-

allyconsistsof

older

peakerplants.Theexpandeddatareleaseincludes:

■118GWofoperatingoil-firedpowerplants

■9.8GWofin-developmentoil-firedpowerplants

■36.9GWofoperatinginternalcombustionplants,

3.7GWICindevelopment

Whilethelatestdatareleaseincludesoil-firedpowerplants,thereareonly7.5GWofexclusivelyoil-firedpowerplantsindevelopmentwiththeremaindergas-firedordualfuel(ie:gasandoil-fired).

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KEYPOINTSFROMTHEGLOBALOILANDGASPLANTTRACKER:

■Fivecountries—China,Brazil,Vietnam,Bangla-desh,andtheUnitedStates—constitute45%of

allnewglobalgas-firedcapacityindevelopment(Figure2),andthetop20countriesmakeup79%.

■Approximately207GWisintheconstructionphase,a23%increasecomparedtolastyear,and295GWisinthepre-constructionphase,a32%increase.

■Ifbuilt,the783GWofgasplantsindevelopmentwouldaddatotalof41,239milliontonnesCO2e

lifetimeemissions,equivalenttomorethansixandhalfyearsoftheentireU.S.’emissions.

■Theboomofoilandgasplantsindevelopmentdwarfsthe12GWofgas-firedcapacitythatwasretiredinthelastyear.

■Abouttwo-thirdsoftheworld’soilandgasplantcapacity

indevelopment

islocatedinAsia.EastandSoutheastAsiaaredominatedbyplanstoimportLNGorexpanddomesticproduction,

Figure2.In-developmentoilandgascapacity,top10countries.

Statusofoil&gaspowerplantcapacityindevelopmentinthe10countrieswithhighesttotals,ingigawatts(GW)

400GW

300GW

200GW

100GW

0GW

0

80

60

40

20

100

Percentageofcapacityindevelopment(%)

China

Brazil

Vietnam

Bangladesh

UnitedStates

Philippines

Iraq

Iran

Taiwan

Nigeria

Construction

Pre-construction

Announced

Source:GlobalOilandGasPlantTracker,GlobalEnergyMonitor

Note:Dataonlyincludesgas-firedgeneratingunits20MWandlargerfortheEuropeanUnionandUnitedKingdom,

andunits50MWandlargerelsewhereglobally.

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NorthernAfrica22GW

SouthernEurope15GW

WesternEurope

12GW

Oceania2GW

NorthernEurope

CentralAsia

EasternEurope

whileWesternAsiaremainscommittedtogas-firedpowergenerationtomeetitsenergyneeds.(Figure3)

■Almostthree-quartersoftheworld’soilandgasplantcapacityinconstructionislocatedinAsia,withathirdlocatedinEastAsia,mainlycon-

centratedinChina.SouthernandWesternAsiatogetheraccountfornearly30%oftheworld’soilandgasplantcapacityinconstruction.

■Globally,Chinaleadsinthedevelopmentofnewgascapacity,with21%oftheworld’stotalgas-firedcapacityindevelopment(Figure2),andthelargestincreasecomparedtolastyear.(Figure4)

■Despiteannouncedcleanenergygoals,theUnitedStatesleadstheglobeinexistingoil-andgas-firedcapacity,with26%oftheworld’stotal,andstill

generatesasignificantamountofitspowerfromfossilfuels.

Figure3.Whereareoilandgasplantsindevelopment?

Capacityofplannedoil&gasplantsbycontinentandregion,ingigawatts(GW)

EasternAsia

218GW

LatinAmericaand

theCaribbean

86GW

Americas

NorthernAmerica

45GW

South-easternAsia

Southern

Asia

72GW

116GW

Asia

Sub-SaharanAfrica

48GW

Africa

WesternAsia

94GW

Eu

rope

26GW

12GW

14GW

Source:GlobalOilandGasPlantTracker,GlobalEnergyMonitor

Figure4.Topcountrieswithincreasesinplannedoilandgascapacity.

Changeinoil&gascapacityannounced,inpre-constructionand

+71.3

China

Iraq

BrazilBangladesh Philippines TaiwanSaudiArabia

Syria

Israel

Malaysia

constructionfrommid-2022tomid-2023,ingigawatts(GW)

+16.3

+15.9

+12.9

+11.8

+9

+8.5

+6.1

+6

+4.8

0GW20GW40GW60GW

Source:GlobalOilandGasPlantTracker,GlobalEnergyMonitor

80GW

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RELIABILITYUNCERTAINTYOFFOSSILFUELPOWERPLANTS

DURINGEXTREMEWEATHER

Astheeffectsofglobalheatingbecomemoreapparent

throughmorefrequentandextremeweatherevents,itis

crucialtohighlightthefalsenarrativeoffossilfuelreliabil-

ity.The

Arcticblast

thathittheUnitedStateslastwinter,

whichpromptedrollingblackoutsandkilleddozens,clearly

demonstrates

the

continued

performanceproblemsoffossilfuelpower,withmorethan100GWofcoal-andgas-fired

generationthatfailedtostartorwereforcedofflineacross

multipleregionaltransmissionoperators.Infact,PJM’s

report

showsthatgasplantsaccountedformorethan70%ofunplannedoutagesduringthestorm,despiteextensive

preparations

inadvance.Thiscomesafternewreliability

requirements

wereissuedafterWinterStormUriin2021,

duringwhichgas-firedpowerplantsfailedtooperate

due

tofreezingcomponentsandgassupply

issues

,

resulting

in

widespreadpoweroutagesandmorethan200deaths.TheNorthAmericanElectricReliabilityCorporation’s(NERC)

latestStateofReliability

report

,whichhighlightscoalandgaspowergenerationsettingarecordforoutagesin2022,statesthat“extremeweathereventscontinuetoposethegreatestrisktoreliabilityduetotheincreaseinfrequency,footprint,

durationandseverity.”DuringtherecentheatwaveinTexas,solarandwind,which

provided

35%ofthestate’spower,com-binedwithbatterystorage,wascrucialto

ensuring

reliabilitywhennearly10GWofgasandcoalcapacitywentoffline.

ArecentIEA

commentary

notedthattheperformanceof

gas-firedpowerplants,whichaccountfor74%ofelectric-

itygenerationintheMiddleEastandNorthAfrica(MENA)

region,canbenegativelyaffectedbywarmerairmassflowenteringthegasturbinecompressor.Morethan80%of

MENA’sinstalledgas-firedcapacityfacesanannualadditionofmorethan20hotdaysinthe2081–2100periodduringalow-emissionsscenarioandover40hotdaysinahigh-emis-sionsscenario.

During

critical

weatherevents,atatimewhengenerationisneededthemost,fossilfuelgenerationhas

proven

tobeunreliable.Energysystemswillneedtobecomemoreclimateresilientastheworldexperiencesthe

impacts

ofclimatechange.Therefore,itisimperativethatweend

ourrelianceonfossilfuelsand

pivot

toflexiblerenewableenergytoensuregridreliability.

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REGIONALBREAKDOWN

Asia

Asia,particularlyEasternAsia,dominatestheplannedglobalgas-firedpowerplantbuildout.

HighLNGpriceshavepushedsomedeveloping

countriesinAsia,includingBangladeshandPakistan,awayfromprocuringLNGcargoes.Inothercases,inabidtoavoidarepeatoftheLNGprice

crisis

,coun-triesare

turning

toboostingdomesticgasproduc-

tionandbuildingupLNGinfrastructureandstoragefacilities.Notably,Japan

announced

itwillestablishaLNGreservesystem,andinIndia,gasregulatorsare

pushing

tobuildgasstorage.Buildingnewgasplants,orconvertingcoalplantstorunongas,willonlyriskstrandedassetsandLNGimportdependencythatis

subjecttovolatilepricesandglobalsupplyconstraintsinthefuture.

AccordingtoTransitionZero’s

Coal-to-CleanPrice

Index

thelevelizedcostofelectricity(LCOE)3fromsolarwithstorage,aswellaswindwithstorage,is

belowthecostofgas-firedpowerinChina.Globally,

Figure5.Oil-andgas-firedpowerplantsindevelopment,Asia.

Gas-firedDualfuelOil-fired

Announced+

Pre-construction

Construction

Operating

3.Levelizedcostofenergy(LCOE)isdefinedbyTransitionZeroas“theaveragetotalcostsofbuildingandoperatingapowerplant,basedonperunitofelectricitygeneratedoveritsassumedlifetime.”TheLCOEforgaspowerrepresentsthepricepermegawatthour($/MWh)atwhichprojectcostscanberecoveredandinvestorscanachieveaminimumrateofreturn—knownasthe“hurdlerate”—onthecapitalandlifetimeoperationalcostsoftheplant.Thisincludesthefixedcostsofbuildingandmaintainingtheplantaswellastheshort-runmarginalcostofbuyingfueland

operatingit.Forutility-scalesolaroronshorewindwithstorage,LCOEistheprice($/MWh)neededtorecoverprojectcostsandattainarequiredhurdlerateoninvestment.Themethodologyassumesabatterywithhalfthecapacityofthepairedrenewablesource,capableofdischargingforfourhours.Forexample,a10megawatt(MW)solarsitewouldhavea5MWbatteryholding20MWh.

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onaverage,theLCOEfromwindwithstorageand

solarwithstorageisbelowthecostofgas-firedpower.

Themajorityoftheworld’s81GWofgasprojects

cancelledinthelastyeararelocatedinAsia.However,whencomparedtothenetincreaseof91GWofproj-ectsindevelopmentayearago,theglobalgasexpan-sionrateisincreasing.

Asia,with514GWatanestimatedtotalcostofUS$385

billion,hasnearlytwo-thirdsoftheworld’soil-and

gas-firedcapacityindevelopment.ThemajorityoftheplannedexpansionisinEastAsia.Overall,thenearly

218GWinEastAsiarepresents29%oftheglobalin-de-velopmentcapacityand42%ofin-developmentcapacityinAsia.Ifbuilt,thiswillincreaseEastAsia’sexisting

gas-firedcapacity,300GWasofmid-2023,byover72%.TheEastAsiaregionishometotheworld’sthreebiggestLNG

importers

:China,Japan,andSouthKorea.

OtherregionsinAsiaalsohaveconsiderablegas

expansionplans.SoutheastAsiahas116GWofoil-andgas-firedcapacityindevelopment,atanestimated

costofUS$98billionandatwofoldincreasecompared

totheregion’sexistingcapacity.SouthernAsiahas

72GWofoil-andgas-firedcapacityindevelopment,atanestimatedcostofUS$59billion.Ifbuilt,this

willincreasetheregion’sexistinggas-firedcapacity,141GW,byover50%.WesternAsiahasapproximately94GWofoil-andgas-firedcapacityindevelopment,atanestimatedcapitalcostofUS$75billion.Ifbuilt,WesternAsia’sexistingoil-andgas-firedcapacitywillincreasebyaboutathird.CentralAsiahasapproxi-

mately15GWofoil-andgas-firedcapacityindevelop-ment,atanestimatedcapitalcostofUS$12billion.Ifbuilt,CentralAsia’sexistingoil-andgas-firedcapacitywillincreasebyalmosttwo-thirds.

EasternAsia4

Theworld’sgasexpansionisconcentratedinChina,

withapproximately164GWindevelopment.Globally,Chinaleadsinthedevelopmentofnewgascapacity,with21%oftheworld’stotalgas-firedcapacityin

development,morethanthenextleadingthreecoun-tries—Brazil,Vietnam,andBangladesh—combined,

andmorethanthecurrentoperatingcapacityofSaudi

Figure6.Oil-andgas-firedpowerplantsindevelopment,EasternAsia.

Gas-firedDualfuelOil-fired

Announced+

Pre-construction

Construction

Operating

4.Includes:China,HongKong,Japan,Macao,SouthKorea,Taiwan

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ArabiaandIrancombined.Aquarteroftheworld’sgasexpansionintheconstructionphaseishappeninginChina.Ifallprojectsindevelopmentarebuilt,China’sexistinggas-firedcapacitywillmorethandouble.

Oil-andgas-firedpowergeneration

accounted

for

justover4%ofChina’selectricitygenerationin2022andrepresentedonly5%ofthecountry’stotalpowercapacity.Despitehaving

committed

toreachpeak

carbonemissionsby2030andtobe“carbon-neutral”by2060,attherecentG20climatenegotiations,China

rejected

callsforeconomy-widetargetstoreduce

totalemissionsbyalmosthalfby2030,aswellasanagreementforglobalemissionstopeakby2025.EvenasChina

ramps

upitsrenewablesbuildout,gas-firedcapacitycontinuestogrowatanalarmingrate,

driven

byincreasingelectricitydemandandcoal-to-gas

replacements.Rystad

forecasts

thatChina’sinstalledgas-firedcapacitywillmorethantriplefrom2022

levels,to355GW,by2050.

Japanhasthesecond-highestoperatinggas-fired

capacityintheregionandranksfourthintheworld,with107GW.Inthe1970s,thecountrywasheavily

reliant

onoil-firedpowerplants.However,ithas

sincediversifieditsfuelsourcestoincludecoal,LNG,andnuclear,bringingtheshareofoiltolessthan

5%by2019.Currently,gas

contributes

about24%tothetotalenergymixandmakesup36%ofthepowergenerationmix.Japan

relies

almostentirelyonLNGimportsforitsgasneeds.DuetohighLNGpricesin2022,Japan

announced

planstospeeduptherestart-ingofsevennuclearreactorsstartinginmid-2023.

Italso

announced

planstolaunchastrategic“LNG

reservesystem”tosecuregasforunexpectedsitua-

tions.Currently,Japanhasonlyaround7GWofgaspowerplantsindevelopment.Despitetheabundantevidenceofeconomic,climate,andhealthrisksof

gasdependency,Japancontinuesto

promote

LNG

asatransitionfuel.Therecentlyapproved“

Green

Transformation

”policyfinancesandencourages

LNG;ammoniaco-firing;fossilhydrogen;andcarbon

capture,utilization,andstorageinAsia.Aspartofitseffortstoreducegreenhouseemissions,Japanhassetagoalof

increasing

itsannualhydrogensupplybysixtimesfromthecurrentlevelto12milliontonsby2040.However,mostofthehydrogencurrentlybeingusedinthecountryis

sourced

fromfossilfuels.

EastAsiahas36GWofcoal-to-gasconversionsor

replacementsindevelopment,representingapproxi-mately16%oftheregion’stotal.Thesearemostlycon-centratedinSouthKoreaandTaiwan.OfSouthKorea’s20GWofgas-firedcapacityindevelopment,12.8arecoal-to-gasreplacements.

SimilartoJapan,SouthKoreahasnegligibledomesticgasproductionandisprimarily

dependent

onLNG

imports.Inits

10thBasicPlan

,theproposed2030and2036energymixscenariosshowLNGaccountingfornearly23%andover9%,respectively.WhileSouth

Koreahas

committed

tononewcoalplantsenteringintoconstructionandphasingoutcoalby2050,the

governmentis

planning

tomeettheenergydemandbyconverting28agingcoalplantsintoLNGplants

by2036.Furthermore,thelatestGreenTaxonomy

classifi

esLNGasa“‘green”fuel.ArecentClimate

Analytics

report

showsthatthereisnoroomfornewgascapacity,a1.5degreecompatiblegasphaseoutforSouthKoreamusthappenby2034,andthereismorethanenoughpotentialrenewablescapacitytoreplacefossilfuels.

Taiwanplansto

continue

itsrelianceonLNGasitpiv-otsfromcoaltogasand

phasesout

nuclearpower.Ofthenearly25GWofin-developmentgas-firedcapacityinTaiwan,morethanhalfarecoal-to-gasreplace-

mentsinthepre-constructionorconstructionstage.Underthe

RenewableEnergyDevelopmentAct

,Tai-wanhassetagoaltoincreasegas-firedgenerationto50%andrenewablepowerto20%by2025.Thetargetalsocallsforcoal-firedgenerationtofalltoabout30%fromthecurrent47%

level

.

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SoutheastAsia5

Globally,Vietnamranksthirdforin-development

gas-firedcapacitywithnearly44GWofprojectsintheannouncedorpre-constructionstage,representing

morethanafivefoldincreaseoverexistingcapacity.

Vietnam’sgassectordevelopmentislargelydriven

byitsbidtoovercomethelongstandingpower

crisis

whilealsoturning

away

fromcoal-firedpowergen-

eration.Thecountry’sUS$135billionPowerDevel-

opmentPlan(PDP),approvedinMay2023,aimsto

increase

gas-firedpowergenerationfrom9.3%in2022toaround25%by2030byadding15%LNG-fuelled

power.Theplanalsocallsforadecreaseincoal-firedpowergenerationfrom33%in2022to20%by2030.In

December2022,Vietnam

announced

aUS$15.5billionJETPagreement,whichwillaidinitstransitionfromcoalbut

leaves

roomforgas-firedexpansion,includ-ingthecountry’sfirstLNG-firedpowerplant—

Nhon

Trach3

,whichiscurrentlyinconstruction.

Asdomesticgassupply

runsdry

,thePhilippinesplanstoturnto

LNGimports

withover28GWofmostly

LNG-firedpowerplantsindevelopment,amorethansixfoldincreaseoverexistingcapacity.Thelong-

termeconomicsustainabilityofLNG-fueledpowerisalready

facing

obstaclesastwopowersupplyagree-mentsarebeingrenegotiateddueto

highcosts

.Therevisedpowersupplyagreementswilllikelypassthe

Figure7.Oil-andgas-firedpowerplantsindevelopment,SoutheastAsia.

Gas-fired○DualfuelOil-fired

Announced+

Pre-constructionConstruction

Operating

5.Includes:Brunei,Cambodia,Indonesia,Malaysia,Myanmar,Philippines,Singapore,Thailand,Timor-Leste,Vietnam

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highfuelcostsontoconsumers,whoarealreadypay-ingsomeofthehighesttariffsinAsia.

InNovember2022,itwas

announced

thatIndonesiawouldreceiveUS$20billioninJETPfundingtoaidthecountryinajusttransitionfromcoaltorenewables.Despite

high

infrastructurecosts,theIndonesiangov-ernmentis

seeking

touseJETPfundingto

convert

upto55ofitsdiesel-firedpowerplantsintogasplants.

Thailand,whichhasnearly13GWofgas-firedcapac-ityindevelopmentandgeneratesalmost65%ofits

electricityfromgasandoil,hasbeen

increasing

LNGimportstomeetdemand.Inapushtoavoidapoten-tialsurgeinLNGprices,Thailandrecently

announced

Figure8.Oilandgas-firedpowerplantsindevelopment,SouthernAsia.

itsintentiontorampupdomesticgasproductionatits

Erawan

field.

SouthernAsia6

Iranleadstheregionwith72GWofoperational

gasandoil-firedpowercapacityandrankssecond

intermsoftheplannedgasexpansionwithnearly

26GWindevelopment.The

share

ofgasinthecoun-try’spowergenerationmixisabout71%;justover

one-quarterofthecountry’selectricityisproduced

fromoil.Iranhascontinuedtoinvestinfossilgenera-tionby

upgrading

itsolderunitsintocombinedcycleplantsandbuildingnewcombinedcycleunits