This week in energy: Japanese collaboration, China’s LNG storage boost and carbon capture milestones
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 week.
Japanese support for emerging economies
Japan continues to play a leadership role in the regional energy landscape, including supporting emerging economies in their energy transition journeys.
The past week brought two pieces of positive news on that front, with the Japan Bank For International Cooperation partnering with the Philippines’ AboitizPower on a variety of energy initiatives, including LNG supply chains and infrastructure that will complement growing investment in renewable energy.
Read more: https://bit.ly/46Zdn9W
Meanwhile, on a visit to the Philippines, Japan Prime Minister Fumio Kishida pledged assistance to support the country’s decarbonisation and net zero aspirations.
ANGEA’s Japanese member companies JERA and JGC are strongly involved in energy transition in the Philippines, including supporting the development of the country’s LNG import infrastructure and also trials of ammonia co-firing in power generation.
Read more: https://bit.ly/3Qt0ePx
Japan and South Korea team up on hydrogen and ammonia
On the subject of international cooperation, it’s very encouraging to read news of Japan and South Korea preparing to collaborate on ammonia and hydrogen supply.
More details are expected to be announced at the APEC Summit in San Francisco next week but with both countries having identified hydrogen and ammonia as key planks of their low-carbon energy futures, it makes sense for governments to work together to help ensure stable and affordable supply in decades to come.
Major corporations from the two nations are already partnering in blue ammonia projects in the US and the Middle East.
Read more: https://bit.ly/479nFUY
Energy sure to be on the agenda at APEC
ANGEA is very much looking forward to being in San Francisco this week, where CEO Paul Everingham will attend the CEO Summit as part of APEC.
Given the involvement of leaders from a wide range of Asia Pacific economies, we’re sure that energy security and energy transition will be major talking points – on the stage and on the sidelines.
Darren Woods, CEO of our member company ExxonMobil, will present on the topic of “Reframing the Climate Challenge: Keep the Energy.”
See the program: https://bit.ly/3MBsazm
China unveils mega-LNG storage tank
China continues to progress the role of gas in its energy system, with the world’s largest LNG tank being put into use by Sinopec at the Qingdao receiving terminal.
The 270,000-cubic metre tank is reportedly capable of meeting the gas demands of more than 2.1 million households during winter, another pointer towards the growing and vital contribution gas will make towards China’s aspirations to achieve net zero by 2060.
Read more: https://bit.ly/3sikxXT
Happy @GlobalCCS status of CCS report for 2023!
This report is the best single repository for global CCS trends, development, projects and policy drivers.
— Jack Andreasen (@AndreasenJack) November 9, 2023
Major progress report on CCS published
Our friends at the Global CCS Institute do an excellent job of promoting a technology that will be vital to net zero and last week they released their annual Global Status of Carbon Capture and Storage (CCS) Report.
Pleasingly, the report shows that a CCS industry is starting to emerge in Asia, with a significant increase in projects in the pipeline since the 2022 version. But the report also highlights the need for continued development of policy and regulatory framework that will support regional and cross-border CCS opportunities.
This is a key issue for Asia Pacific and one ANGEA and its members looking forward to tackling alongside GCCSI over coming years.
Read more: https://bit.ly/3SFQ5ln
First commercial US direct air capture facility declared open
There was a significant milestone in the advancement of direct air capture technology this week, with the opening of the first commercial operation in the United States in California.
The plant uses large stacks of crushed and treated limestone to absorb CO2 from the atmosphere, which is then removed from the rock via heating (powered by renewable energy) and stored permanently in concrete.
The U.S. Department of Energy announced $US1.2 billion in funding to advance direct air technology in August, while a first-of-its-kind State of Carbon Removal report published in January and led by University of Oxford researchers found removal technologies needed to grow by 1300 per cent by 2050.
Read more: https://reut.rs/3FRZ8YC
Woodside is “looking at a number of different opportunities,” particularly in the US, to grow its global #LNG supply portfolio, CEO Meg O’Neill told Energy Intelligence following the company’s investor briefing. https://t.co/IEdA5Irz36 #WoodsideEnergy #corporatestrategy #natgas
— Energy Intelligence (@energyintel) November 9, 2023
Woodside buoyed by Asian LNG demand, excited about Scarborough
Australia has long been a reliable and valued energy trading partner for Asia – and it’s very positive to see our member company Woodside Energy planning positively for the region’s future.
Speaking at an investor briefing Woodside CEO Meg O’Neill outlined the company’s plans for the Scarborough project off Western Australia, which is poised to start delivering some of the world’s lowest carbon intensity LNG to north Asia from 2026.
Read more: https://bit.ly/3svZvF6
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.