ECONOMIC ENVIRONMENT OF ARCTIC LIQUEFIED NATURAL GAS SUPPLIESTO THE ASIAN-PACIFIC REGION COUNTRIES UNDER THE END OF THE “TRADE WAR” BETWEEN THE USA AND CHINA

Currently, the Asia-Pacific market is a priority goal for almost all major producers of liquefied natural gas(LNG). This is due to the relatively high price that local consumers are willing to pay, as well as the accelerated growth rate of natural gas consumption. At the same time, China is the main driver of growth in demand for LNGin the world, has concluded a trade agreement with the United States, which involves the purchase of energy resources worth more than $ 52 billion over two years. Given the decline in LNG prices, as well as increased competition, the issue of the prospects for sales of Russian Arctic gas on the market of the Asia-Pacific region becomes particularly relevant.The study provides a generalized assessment of the needs of the main importers of LNG ––China, South Korea and Japan, with a planning horizon of 4–5 years. The relatively high growth rates of the economy, partial rejection of nuclear energy, struggle to improve the environmental situation, as well as the desire to diversify supply routes explain the needs of the countries in the Asia-Pacific region for additional volumes of LNGin the near future. The analysis showed that both Japan and South Korea are interested in increasing the volume of imports of Russian arctic LNG, whose key advantages over most competitors are the price and relative proximity of sales markets. At the same time, the reduction in the number of operating gas drilling rigs in the United States indicates that it will not be possible to maintain the growth rate of LNG production at the level of 2018 and 2019.