ANGEA welcomes Indo-Pacific Strategic Energy Initiative Act
The Asia Natural Gas and Energy Association (ANGEA) and its member companies welcome the introduction to the United States Senate of the Indo-Pacific Strategic Energy Initiative Act.
The Act acknowledges both the crucial role for US LNG in worldwide energy transition and the importance of reducing emissions and ensuring energy security for the Indo-Pacific region.
ANGEA CEO Paul Everingham said it was extremely encouraging to see the region’s energy needs and pathway to meeting climate targets being recognised in other parts of the world.
“By 2050 it’s projected that Asia will generate half the world’s GDP – economic growth that will be accompanied by a substantial increase in energy demand,” Mr Everingham said.
“This economic growth is vital to helping millions of people across Asia emerge from poverty but it’s contingent on countries having access to reliable, affordable and sustainable energy. Natural gas, as the cleanest of the fossil fuels, can underpin the electricity generation needed to support this growth while also assisting progress towards climate objectives.
“Over the past 18 years, the US gas industry has grown massively, to the point where it is now one of the biggest LNG exporters in the world and a major supplier to Asia.
“Meeting Asia’s growing energy needs in the next three decades will require new gas projects and infrastructure to come online and the Indo-Pacific Strategic Energy Initiative Act is designed to help make that happen.
“Significantly, support would not only be for projects and infrastructure located within the United States but also those in Indo-Pacific nations, where it will help build capacity as those countries move towards lower carbon economies.
“If legislated, this Act will provide for a more secure and cleaner energy future for Asia, while also reinforcing the existing strong relationship between the US and the nations of Indo-Pacific.”
*Countries classified as Indo-Pacific include:
- the Republic of Korea;
- and any other country that is:
(i) a member country of Association of Southeast Asian Nations (commonly referred to as “ASEAN”); or
(ii) located in or adjacent to the tropical waters of the Indian Ocean, the western and central Pacific Ocean, or the seas connecting the Indian Ocean and the Pacific Ocean, including Taiwan; and
Indo-Pacific countries prohibited from receiving support under section 503 of the Better Utilization of Investments Leading to Development Act of 2018 (22 U.S.C. 9673) are not included.
ANGEA is an industry association representing LNG and natural gas producers, energy buyers, suppliers and companies in APAC. Based in Singapore, it works in partnership with governments and societies across the region to deliver reliable and secure energy solutions that achieve national economic, energy security, social and environmental objectives and meet global climate goals.
Main photo by Harold Mendoza on Unsplash