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.    

Key COP28 climate talks continue
The annual COP28 conference is now entering its final few days in Dubai, with a strong focus on the world’s energy systems of the future and how they will contribute to the global pathway to net zero. 

More than 100 countries – among them Japan, South Korea, Singapore, Malaysia and Australia – have signed a pledge to triple the world’s renewable energy capacity and double the annual rate of energy efficiency improvements. 

Meanwhile, Japan has committed to ending construction of new domestic unabated coal-fired power plants (full story: https://reut.rs/3RrfP3F ) and ANGEA members Woodside Energy and ExxonMobil were among 50 oil and gas companies to sign up to a charter to accelerate climate action in the industrial sector. The charter includes a commitment to net-zero operations by 2050, an end to routine flaring by 2030 and near-zero upstream methane emissions (full story: https://bit.ly/46Ryfzi ) 

Talks about future energy are expected to accelerate as COP28 comes to a close and ANGEA will bring you its take on developments as they come to hand. 

Woodside secures Mexican gas for Asia
There was a significant piece of LNG-related news during the week, with Woodside Energy committing to purchase the equivalent of 18 cargoes of LNG over 20 years from Mexico Pacific’s Saguaro Energia LNG project. 

It’s another great example of ANGEA member companies diversifying supply to meet Asia’s needs, with the Pacific Coast location of the project making it particularly suited for shipping to customers in our region. 

Read more: https://bit.ly/46Wb9au  

More Japanese support for LNG
In another sign of the importance of natural gas to Japan’s energy security, state-backed Nippon Export and Investment Insurance will cover a 100 billion yen ($680 million) credit line extended by Sumitomo Mitsui Banking to ANGEA member company JERA for LNG purchases. 

The guarantee will support the cultivation of diverse sources of supply amid elevated pricing and extends on a trade insurance program that previously applied to Japanese initiatives being pursued overseas. 

Read more: https://s.nikkei.com/47Tb8oO  

Long-awaited Indonesian project gets go-ahead 

In positive news for both Indonesian and regional energy security and energy transition, the latest development plan for the Abadi Masela gas project has been approved.

The estimated $20 billion project is expected to start producing in 2029 and will produce up to 9.5 million tonnes of LNG a year. 

Read more: https://bit.ly/3RpgjHI  

Pertamina advances CCUS activities in East Java
Sticking with Indonesia, State energy firm Pertamina has started an underground carbon injection trial in an exiting Sukowati oil field, the second site the company is testing for carbon capture, utilisation and storage (CCUS). 

Pertamina is working with Japan Oil, Gas and Metals National Corporation (JOGMEC) and Japan Petroleum Exploration Company Limited (JAPEX) on the testing. 

CCUS will be essential to progress on climate targets in Indonesia, as a means of decarbonising power generation and in reducing emissions from hard-to-abate industries. Indonesia also has huge potential to be a storage hub in CCUS networks with other countries in the region. 

Read more: https://bit.ly/3NdwpkX  

Long-time gas field set to take on another life
For nearly 20 years, the Bayu-Undan field off Timor Leste has been a reliable source of production and delivery of LNG shipments to Japan.

But now, with a final LNG cargo departed, new life beckons for Bayu-Undan as a carbon capture and storage facility under plans drawn up by operator and ANGEA member company Santos. 

Read more: https://bit.ly/418NZfW  

Malaysia offers strong gas potential for Thailand
Thailand’s PTTEP is reporting positive progress as it continues to explore the Southeast Asia for natural gas – in particular, recent discoveries off Malaysia. 

PTTEP has identified several potentially significant gas fields as a result of Malaysian exploration activities.

Gas accounts for more than 60 per cent of Thailand’s electricity generation and declining local reserves make developing external sources of supply vital to energy security. 

Read more: https://bit.ly/3RbLBR3  

 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. 

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