This week in energy: gas on the agenda for key Asian economies, carbon capture a hot topic of discussion
Each week, the Asia Natural Gas and Energy Association (ANGEA) compiles stories from the energy world that have caught our eye over the course of the previous seven days.
Given the region in which we operate – and our purpose – this collection of content is largely Asia-focussed. But we also look further afield, knowing that developments, trends and technology from around the world also have an impact across our region.
Here’s what’s resonated over the past seven days…
Thailand’s faith in gas continues
Thailand is one of the countries in which ANGEA has been most active over the past year and we continue to be encouraged by the strong role natural gas is playing in the nation’s energy transition.
News this week saw state-owned energy company PTT Group commit to spending $US2.86 billion over the next five years on decarbonisation measures – more than half of it on LNG pipelines and import stations. The news follows the recent commissioning of the Nong Fab LNG terminal in Thailand.
Read more about the PTT Group investment: https://s.nikkei.com/3yAR6jk
Thailand's state-owned energy company PTT Group plans to spend some 100 billion baht ($2.86 billion) in the coming five years to increase LNG import stations and help produce EVs.https://t.co/8HiVxMORNO
— Nikkei Asia (@NikkeiAsia) March 14, 2023
Vietnam eyes off first LNG shipment
In a similar vein, it was exciting to read this week that Vietnam was on the verge of its inaugural LNG import shipment – potentially the first of many.
For a country with ambitions of moving away from a high proportion of coal-fired electricity, LNG switching is a major step towards becoming a lower carbon economy.
Read more: https://bit.ly/41Zjid3
Gas import options also emerging in the Philippines
With dwindling gas supplies of its own and a heavy reliance on coal for power, imported gas also has the opportunity to be a major contributor to the Philippines meeting its climate targets.
It’s a positive sign that the Lopez Group conglomerate – one of the country’s most significant companies – is looking to expand its mainstay energy business by investing in LNG import capabilities.
Read more: http://bit.ly/3ToRPxp
Indonesia takes another step towards carbon capture
Countries right across Asia are increasingly investigating and investing in the potential of carbon capture, utilisation and storage (CCUS) – and Indonesia is emerging as one of the nations most interested in the technology.
News of the Indonesian Government announcing legislation to encourage carbon capture comes after Chevron and state-owned Pertamina announced a CCS venture at CERAWeek. Given Indonesia is projected to be the world’s fourth-largest economy by 2050, CCUS is going to be critical to its energy transition process.
Read more: https://bit.ly/3JisTmT
Reflecting on CERAWeek and what it means for Asia
“It proved to me once again that some of the smartest minds on the planet are working on crucial energy challenges…and that the wider energy world appreciates the specific issues faced by Asia Pacific.”
Read more: https://bit.ly/406Gh44
How CCUS can develop in Asia
This past week Paul also had the opportunity to join other industry leaders from McKinsey and Company, the Global CCS Institute and GaffneyCline for a wide-ranging and very relevant online panel discussion about CCUS in Asia.
ANGEA is grateful to Energy Voice for organising this excellent event and its journalist Ed Reed for his expert hosting work.
You can watch the full event here: https://lnkd.in/eaq5Jkc5
Energy security on the agenda
Energy security for Asia is a topic ANGEA will be talking about a great deal over the weeks and months ahead – and it was a major subject of interest at CERAWeek.
Paul spoke to Reuters about the critical need to put additional gas into Asia Pacific markets.
Read more: https://bit.ly/403P4UE
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.