This week in energy: checking in from CERA, spotlight on carbon capture and a picture painting thousands of words
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 globe also have an impact across our region.
Here’s what’s resonated over the past seven days…given the global spotlight on CERAWeek, it’s not surprising that events in Houston feature prominently!
The wise words of Daniel Yergin
This wide-ranging conversation with one of the world’s top energy experts was published in Forbes in the lead-up CERAWeek but it did such a good job of summing up the complexities of global energy transition that we figured it was well worth a mention.
We were particularly taken by these lines in relation to the differing landscapes between developed and developing economies: “Climate may be a priority, but so is economic growth and poverty, improving health. It’s just such a different perspective, and this is being played out every day.”
Read more: https://bit.ly/3Zw17dj
.@DanielYergin, Vice Chairman of @SPGlobal, Stephen Scherr, CEO of @Hertz and Bernard Looney, CEO of @bp_plc shared a dialogue about achieving #netzero goals sooner at #CERAWeek. https://t.co/VPrc4LeyuE pic.twitter.com/kcODJ07DBS
— Commodity Insights Energy Transition (@SPGCIEnergy) March 7, 2023
Addition by subtraction when it comes to emissions
Energy security, energy transition and future fuels (including hydrogen) were all hot topics at CERAWeek. But so too was carbon capture, utilisation and storage, with a number of ANGEA member companies making significant announcements in that space – including JERA and Chevron.
As the team at Energy Voice reflected in their wrap of all things CCUS and CERA, “carbon capture stood out as a major theme for expansion.”
Read more: http://bit.ly/3Tcxonp
ANGEA’s thoughts on the road ahead for CCUS
Speaking of Energy Voice and carbon capture, we’re grateful for the publication giving ANGEA the opportunity to weigh in on how we see the technology developing in Asia Pacific as part of the region’s energy transition.
As our CEO Paul Everingham writes: “It’s easy to understand why carbon capture, utilisation and storage is increasingly finding its way into mainstream media. But the novelty people may associate with CCUS shouldn’t overshadow how critical it will be over the next few decades.”
Read Paul’s full opinion piece: http://bit.ly/3Tcxonpb
ANGEA in the media at CERA
One of Paul’s key focusses at CERAWeek was engaging with media around energy challenges and opportunities for Asia. This included Reuters, China’s Xinhua News Agency, Gulf News (pictured above), Bloomberg, the Wall Street Journal and the New York Times.
ANGEA was also one of a number of global energy organisations featuring as a co-signatory on a letter to the G7 – requesting support for the role of gas and LNG in Asia for the purposes of energy security and meeting climate objectives.
Read more: http://bit.ly/3FcykSU
Positive steps forward for Vietnam
Stepping away from CERAWeek, it was encouraging to read in the Financial Times this week about Vietnam scouting for its first LNG import shipment.
Use of imported LNG in electricity generation would be a major step towards Vietnam moving away from its reliance on power fuelled by coal.
Read more: http://bit.ly/41Zjid3
A picture paints many thousands of words
One of our favourite pieces of media this week wasn’t particularly mainstream, nor did it fit the framework for what we’d traditionally view as a story. But it was highly impactful.
Thanks to the crew at visualcapitalist.com for putting together this very effective graphical representation of electricity generation by source across Asia – highlighting the challenges for the region and also the opportunity for natural gas to provide a lower-carbon alternative.
The International Energy Agency predicts that Asia will account for half of the world’s electricity consumption by 2025 ⚡️
— Elements (@VCElements) March 7, 2023
Singapore’s road to net zero
The pathway to each country achieving its climate objectives must be unique – but Singapore represents a great example of transition over time.
Singapore’s move to a natural gas-based economy started more than 20 years ago and now has it ideally-placed to boldly chase its net zero ambitions – as this feature from Channel News Asia explains.
Read more: http://bit.ly/3F8hFQz
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.