Energy majors lock onto Southeast Asia in race for more gas for AI power demand

Energy majors are pouring money into gas exploration and production in Malaysia and Indonesia to meet rising power demand from growing populations and a proliferation of data centres in the region.

The wave of investments come as European majors pivot back to more profitable conventional fuels as countries embark on different energy transition paths, while Southeast Asian governments want more affordable local gas supplies to drive economic growth and improve energy security.