This week in energy: history beckons for Vietnam, Japan and Korea collaborate, and positive news from North America

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’s resonated over the past couple of weeks… 

History for Vietnam draws ever closer
It’s been a big couple of weeks for Vietnam, with the country’s National Power Development Plan 8 finally being adopted, identifying a clear and significant role for natural gas in the country’s energy transition. 

In line with that, Vietnam’s first ever delivery of imported LNG – for State-owned PetroVietnam – is expected to arrive over the next six weeks. 

Read more: https://bit.ly/3C9TO0R 

Japan-Korea collaboration takes another step
As two of the region’s most developed and industrialised countries, collaboration between Japan and South Korea has the potential to be a major driver of decarbonisation and energy transition in Asia. 

It was extremely encouraging to see the two countries holding their first energy dialogue in six years, discussing (among other things) energy security and net zero aspirations. 

Read more: https://bit.ly/3oNeb0Y 


A big month for ANGEA

May was certainly one of the biggest months in the nearly two years of ANGEA’s existence, with a visit to Bangkok for Future Energy Asia that coincided with the release of the Rystad Study into Energy Security in Southeast Asia. 

The Rystad Study was the first major piece of research commissioned by ANGEA (in partnership with the American Petroleum Institute) and its findings and recommendations are valuable resources, not only for Asian nations but for the world’s gas suppliers. 

Read our CEO Paul Everingham’s blog about the past month and what lies ahead: https://bit.ly/45V7cDZ 

G7 Summit underscores critical role for gas
All eyes were on Hiroshima in mid-May as the G7 Summit met for wide-ranging conversations that included the global energy outlook.

ANGEA and its member companies welcome recognition from G7 of the important role that LNG can play in accelerating global energy transition and providing energy security in the face of challenging geopolitical circumstances. At the same time, we will continue to work with governments and industries around the world to highlight the need for increased investment in the development of natural gas projects, to help Asia access the energy it needs for economic growth and to make progress on climate goals.

Our pre-Summit message to the G7: https://bit.ly/434hRJX 

A key development in the US
It might have been overshadowed from a publicity perspective by other matters in US politics – notably the debt ceiling – but the introduction of the Indo-Pacific Strategic Energy Initiative Act to the Senate recently was a significant moment. 

It not only reinforces the position of the US as a strong energy partner for Asia, but it will provide a foundation of support for projects and infrastructure in both the US and Indo-Pacific that will build capacity as countries in the region move towards lower carbon economies. 

Read more: https://bit.ly/3WjFRqi 

It’s all happening in Canada
To the north of the US exists a country that seems set to be a major supplier of the LNG that will help Asian nations decarbonise over the next few decades. 

Although Canada is a well-known gas-producing national it doesn’t currently export LNG – but that situation is soon going to change, including the LNG Canada facility that is set to start shipping by 2025. 

A couple of Canadian articles got our attention this past week, including this piece on why Canadian LNG is a natural fit for Asia and this excellent piece of analysis on what a flourishing LNG export industry in Canada could mean for Indigenous communities. 

Both are well worth a read. 

ExxonMobil inks new carbon capture-steel deal
We’re already seeing a growing number of cross-industry partnerships in Asia around carbon capture and storage (CCS) and as the technology becomes an entrenched part of the pathway to net zero we’re only going to see more. 

A great example of this collaborative thinking emerged this week in the US, where our member company ExxonMobil will team up with one of the world’s largest steelmakers Nucor Corporation to capture CO2 emissions from its plant in Convent, Louisiana and permanently store them in underground reservoirs. 

Read more: https://bit.ly/3WLrzyZ 

A close-up look at a potential CCS hub
Speaking of the US and CCS, we came across this story over the weekend from NOLA.com about Louisiana’s nascent yet rapidly emerging carbon capture scene. 

The Gulf Coast of the US is a hot bed of CCS activity and it was extremely interesting to see a story not only embracing the industrial opportunity for Louisiana but also delving into the science behind the technology. Lessons learned in other parts of the world will inform the development of Asia’s future CCS hubs and it seems likely some of those lessons will come from the Pelican State. 

Read more: https://bit.ly/3WNfqcS 

Bangladesh signs new LNG deal
A positive development this week for Bangladesh, which already generates most of its electricity from natural gas – and will continue to rely on it to support a fast-growing economy, as the country increases investment in renewables and other clean energy sources. 

A new 15-year deal between PetroBangladesh and QatarEnergy will see 1.8 million tonnes a year of LNG supplied from 2026, helping Bangladesh shore up its energy security in uncertain times.

Read more: https://reut.rs/43Aypts  

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 Elliot Andrews on Unsplash