This week in energy: Japan active in the Middle East, promising discoveries off Malaysia and the Inflation Reduction Act unpacked

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. 

Productive engagements in the Middle East for Japan
There has been a string of future-facing announcements following Japan Prime Minister Fumio Kishida’s first visit to the Middle East in three years, taking in Qatar, Saudi Arabia and the United Arab Emirates. 

Energy security is always a key focus for Japan but this visit tied in with the unveiling of a collection of decarbonisation collaborations involving major Japanese companies, many of them around hydrogen. 

Japan recently announced a US$107 billion investment that will expand its hydrogen supply sixfold from the current level of 2 million tons to around 12 million tons by 2040. 

Read more: https://bit.ly/455Sdpc  

Vietnam’s gas emergence explained
It’s always an interesting exercise to see what thought leaders in other countries make of energy developments in Asia. 

In this case it’s the Center on Global Energy Policy at Columbia University, with a very informative explainer on Vietnam’s National Power Development Plan 8 and the practical steps that must be undertaken to turn gas/LNG ambitions into reality. 

ANGEA was in Vietnam recently for meetings with key energy officials, and progress in the country’s energy transition will be fascinating to follow. 

Read more: https://bit.ly/3O8k5lX 

Potential Chevron project could have Asian benefits
Chevron currently supplies domestic gas to Israel from large gas fields off the country’s coast, including the Leviathan field. 

But the resource is capable of producing much more gas than Israel needs, opening up the possibility of a floating plant that would clear the way for LNG exports to areas of Asia, including Pakistan, India, and southern China. 

Chevron’s President of Natural Gas Freeman Shaheen spoke to Nikkei Asia about the potential expansion. 

Read more: https://s.nikkei.com/3OxCfyZ  

LNG carriers very much in demand
If you wanted further proof of the ongoing and future importance of LNG to global (and Asian) energy transition, look no further than demand for newbuild carriers that will carry cargoes in years to come. 

Seatrade Maritime News reported owners had spent $47 billion in 18 months on LNG carriers, equivalent to 27 per cent of all investments in newbuilds. 

Read more: https://bit.ly/44XEBfJ

Promising discoveries in Malaysia
Encouraging news from Malaysia, with national energy company Petronas announcing six new offshore oil and gas discoveries. 

Malaysia, is already one of the largest gas producers in Asia and an exporter of LNG to other countries in the region, while itself aiming to move away from using imported coal in electricity generation.

Read more:  https://bit.ly/3Y6bd4J  

Major Japanese support for energy transition start-ups
A significant announcement from ANGEA member company JERA this week, with US$300 million to be invested in low emissions technology energy start-ups. 

The investment reflects not only JERA’s support – but that of all ANGEA members – to innovative companies of all shapes and sizes that will help realise energy transition in Asia. 

Read more: https://bit.ly/3Osn8Xz 

Breaking down the Inflation Reduction Act
Since it was introducing last year by the Biden Government, the Inflation Reduction act has turbocharged advancement of key energy transition initiatives like carbon capture, utilisation and storage – not just in the US but around the world. 

Our member company Mitsubishi Heavy Industries has produced a very informative and interesting piece of analysis on the Inflation Reduction Act as part of its Spectra content series. 

Read more: https://bit.ly/3Qi7tLQ  

Walmart announces latest carbon capture collaboration
A couple of weeks back it was captured CO2 being used in ink for running shoes, now it’s yarn that can help make clothes as part of a partnership pilot project between Walmart and Californian company Rubi Laboratories Inc.

Yet another reminder that the possibilities offered by carbon capture, utilisation and storage (CCUS) are nearly limitless and will help drive new industries and value chains around the world. 

Read more: https://bit.ly/3QpsMuC  

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.