“It is ‘very difficult to fill the gap’ between declining domestic gas production and rising energy demand in Southeast Asia with renewables and battery storage alone,” Izumi Kai, CEO of Singapore-based unit Jera Asia Pte said in an interview late yesterday.

The company is “always looking for new opportunities,” and will consider divestment of existing assets to “recycle cash for new investments,” he said.

Southeast Asia’s LNG demand will almost double from last year’s level by 2030, according to BloombergNEF.

That’s helping turn the region into a magnet for global LNG traders, including Jera, which currently has projects in countries including the Philippines, Thailand and Indonesia.

Malaysia’s state energy firm Petroliam Nasional Bhd expects the country to be increasingly dependent on imports in the next five years, and is working to start a third regasification terminal.

Indonesia earlier this year asked overseas buyers to accept delays to some scheduled shipments as domestic energy demand rises.

“Outside the region, Jera also sees potential to develop infrastructure and power generation facilities in Bangladesh,” Kai said.

The utility recently opened its newest office in the nation.