That is the view Santos managing director and CEO David Knox shared with the Brisbane Mining Club - a view that is also going to drive Santos' strategy.
With US gas molecules looking to come into the Asian market comes the threat of a change from an oil linked price - which Australia-Asia gas deals are built on - to the cheaper Henry Hub price.
"What I will point to is a simple comparison," Knox said.
"If you use a Henry Hub price of say $US6 to $7 ($A6.45-7.50) in 2020, by the time you add the 15% capacity mark-up, the liquefaction and transportation and the cream that traders will take on top of that - then you will see that you have landed US LNG into Japan or Korea at around $14 to $14.50.
"Now this landed price is pretty close to the price of a conventional oil linked project, which at $100 oil price is circa $14.50."
Knox said the market was one where demand could not be met by one or two countries alone.
"US LNG will be important but not a silver bullet," he said.
"And pipeline gas from Russia will also play a role but will only meet around 6% of China's gas demand by 2030 - so context is important.
"The end result is therefore one where buyers will seek diversity - both in the origin of supply and in price.
"A market which will continue to welcome cost-competitive LNG from Australia and remain a focus for Santos."
On the strategy front, Knox talked about how the company had changed over the past eight years from a domestic supplier to one on the cusp of exporting LNG to Asia.
"To capture the opportunity as we envisaged it Santos embarked on a three-pronged strategy - to build our domestic business base, to deliver a transformational LNG portfolio and to build a portfolio of assets in Asia," he said.
"This strategy has not changed."
A few years ago only 30% of Santos' portfolio was linked to the oil price.
"Today it is 40% and by 2015 we will have three LNG projects delivering cargoes at oil-linked prices to Asia - Darwin LNG, PNG LNG and Queensland's own GLNG," Knox said.
"This will lift that number to around 70%, growing the revenue we make per barrel and the company's operating margins."
Knox said Santos' strategy was also delivering infrastructure and incentivising increased gas exploration.
"It has created the incentive for Santos to invest in the Cooper Basin to unlock the gas that exists in the tight rocks and shale that reside there.
"It is allowing us to explore the underexplored resources in the Northern Territory.
"It is increasing our commitment to explore for gas in the central highlands of Papua New Guinea.
"And it is this existing infrastructure that could be so important us for us and others - in allowing us to remain competitive in supplying new sources of gas to Asia."
PNG LNG has already come online with the first cargo shipped to Japan on the Spirit of Hela tanker.
"We expect the project to ship a cargo every four to six days for 30 years to buyers in China, Taiwan and Japan," Knox said.
"Back home and Gladstone LNG will be our first operated LNG project - and for Santos represents the largest investment in the company's history."
The company has invested about $5.6 billion in the project. With great investment comes great responsibility.
Knox said the project was more than 80% complete and on track for shipping first cargoes in 2015.
It will be delivering about 11% of Korea's domestic gas needs and about 9% of Malaysia's gas needs for the next 20 years.
