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Oil Change International & Asian Peoples’ Movement on Debt and Development (APMDD)

November 2021

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Translations: Chinese, Korean, Japanese

Asia is one of the few remaining growth markets for gas. The fossil fuel industry and its proponents are pushing to develop $379 billion of gas terminals, pipelines and power plants in Asia over the next decade. Roughly three-quarters of all Liquified Natural Gas (LNG) import terminals in development globally are planned for Asia. This aggressive buildout ignores a simple truth.

Renewable energy is cheap and getting cheaper. Solar
is already the cheapest new source of energy in China, India, Thailand and Vietnam. Renewables will become the cheapest way to supply electricity across Asia before the end of this decade. Together with advanced grid development and management, as well as increasingly cheaper storage, renewables can provide an affordable, stable backbone for a clean energy economy.