This week in energy: focus on security, big announcements in Vietnam and a cross-country methane collaboration

Each week, the Asia Natural Gas and Energy Association (ANGEA) compiles stories from the energy world that have caught our eye.     

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 has resonated over the past seven days. 

Energy security remains high on the agenda
There a wide range of energy security-focussed news this week – highlighting the fact that the uncertainty of global markets over the past 18 months is far from forgotten and that countries are understandably determined to access the gas that helps them meet economic growth and climate targets. 

Over the past week we’ve seen Japan reach an agreement with the EU to collaborate on LNG architecture, Japan upgrade its energy ties with Qatar and numerous countries flag the need for greater gas production at a major industry conference in Tokyo.  

Recent developments in energy security in Japan, China, South Korea and Taiwan were neatly summed up in an article by Reuters this week. 

Read more: https://bit.ly/3K5qEV7 

Significant news keeps coming in Vietnam
Vietnam really is a hotbed of energy activity right now and significant announcements keep coming after the adoption of National Power Development Plan 8. 

In the week following the country’s first ever LNG delivery, there was confirmation of approval to build the US$1.34 billion Son My Terminal. 

Vietnam also announced a massive US$11.4 billion plan to build out its fuel storage capacity by 2030, including expansions in LNG that will help kickstart major gas-fired power projects. 

Read more: https://bit.ly/3K1hKbd  

ANGEA visits Vietnam for the first time
All of this activity in Vietnam made it a very exciting and interesting time for ANGEA to visit the country in an official capacity for the first time. 

Our CEO Paul Everingham and Senior Adviser Neil Theobald greatly appreciated the opportunity to meet with Vice Minister for Industry and Trade Dang Hoang An, Vice Minister for Planning and Investment Tran Duy Dong, Deputy Director of the International Relation Department for EVN Luong Thi An, the International Cooperation Department at the Institute of Energy and representatives from the PetroVietnam Gas Joint Stock Corporation. 

It was very encouraging to hear more about Vietnam’s plans to underpin its future energy systems with gas and we look forward to more positive interactions in the years to come. 

ANGEA would like to thank the senior energy officials and their teams who made time to meet with us and for the interest they showed in our organisation. 

Read more in Paul’s blog: https://bit.ly/44SyRDZ 

Major players collaborate on methane
The quest to detect and mitigate methane leaks is one of the big challenges facing our industry and one that ANGEA member companies are very committed to tackling. 

It was extremely pleasing to see the announcement during the week of a cross-country collaboration on this issue, featuring the governments of Japan, Australia and the Republic of Korea, along with the EU. 

This type of partnership, involving both producers and consumers of natural gas/LNG, will produce many learnings that can be adopted in global supply chains. 

Read more: https://bit.ly/3Y5dNrH 

More long-term LNG secured by India
As the world’s most populous nation and its fifth biggest economy, India is obviously a major part of the climate puzzle – not just in Asia but also globally. 

India’s ability to reduce reliance on coal will be pivotal to it achieving a net zero target of 2070, and long-term gas import deals – like the one revealed this week with ADNOC and TotalEnergies – will be vital to successful energy transition. 

Read more: https://bit.ly/46WpzbS  

Singapore’s decarbonisation plans continue to take shape
A couple of highly interesting pieces of energy news out of Singapore this week, including the revelation that a site near Sembawang hot spring could potentially be tapped for geothermal energy. 

Meanwhile, a new era power plant to be built on Jurong Island by 2026 will be hydrogen-ready from the outset – initially as part of a 30-70 blend with natural gas but eventually as the sole fuel. 

Read more: https://bit.ly/3K5zt19 

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.