This week in energy: more gas for Thailand, illustrating Vietnam’s LNG demand and CCUS news aplenty

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 week.

More Thai gas production on the cards for Chevron
Energy security is a pressing issue for many Asian nations and one of the key ways in which it can be addressed is to maximise use of available domestic gas resources. 

It’s very encouraging, therefore, to see ANGEA member company Chevron targeting more gas production in the Gulf of Thailand, following the awarding of new exploration licences.

Read more: https://bit.ly/3oTb9bC 

Illustrating Vietnam’s rising gas demand
Vietnam’s adoption of National Power Development Plan 8 outlines an increasing role for gas in power generation, rising to 25 per cent in 2030 as total generation across all fuel sources more than doubles. 

This growing gas demand – and reduced reliance on coal for electricity – will largely be met through rising LNG imports, as demonstrated by the excellent chart below from our friends at Rystad Energy. 

(on the topic of Rystad, you might like to check out their excellent Study Into Energy Security in Southeast Asia: https://bit.ly/3WAEKCT ) 

Two topics everyone in Asian energy wants to talk about
ANGEA CEO Paul Everingham used a recent opinion piece – originally published in Oil & Gas News – to highlight two of the major energy conversations he has wherever he travels. 

One of them, unsurprisingly, is energy security. The other may currently feel a little novel but, as Paul points out, the curiosity factor will disappear over the next 20 years. 

Read more: https://bit.ly/3oXhXEP   

Japan announces CCUS commercialisation sites
Japan’s carbon capture, utilisation and storage ambitions took a major step forward this week with the identification by the Ministry of Economy, Trade and Industry (METI) of seven sites – five within Japan and two overseas – that would be targeted for commercialisation of the technology.  

The Government of Japan has set bold targets for carbon storage on the road to net zero: 6-12 million tons of CO2 annually by 2030, rising to between 120-240 million tons per year by 2050.

Read more: https://bit.ly/3paS2K1  

What could be for Canada
The staging of LNG2023 in Vancouver is only going to sharpen the focus on Canada’s gas production and its capacity to assist Asia’s energy transition. 

Canada currently doesn’t export LNG but an article this week from The Western Standard highlights its enormous potential in the global market – provided demestic policy settings allow. 

Read more: https://bit.ly/464zPOX 

US and Singapore in energy transition partnership focus
Great to see Singapore’s Foreign Minister Dr Vivian Balakrishnan meeting with US Secretary of State Antony Blinken this week and announcing the Climate Partnership between the two countries would focus on five key areas. 

These include regional energy transition and building of capacity of countries throughout Asia, reflecting the type of collaboration that will be required to progress the region’s climate ambitions.

Read more: https://bit.ly/43MoWQn 

More collaborations on energy
It’s been a busy couple of weeks for energy partnerships within Asia, with Vietnam and Singapore announcing closer ties on energy transition – particularly pleasing in light of the introduction of National Power Development Plan 8. 

Read more: https://bit.ly/43QiYh0 

Indonesia and Malaysia also announced they would be working together to promote investments that will boost renewables and industrial downstream processing.

The two countries share some key similarities in their energy transition journeys, including stated ambitions to move away from a reliance on coal. 

Read more: https://bit.ly/3qxpHOl 

The case for hydrogen + carbon capture
The World Economic Forum published a story late in the week that got our attention – partly because of the easily digestible way it tied together two topics that will be central to Asia’s energy future. 

In a nutshell, the article asks: if using natural gas with carbon capture and storage is the easiest and most effective way of generating hydrogen at scale, why shouldn’t that be a major part of the energy transition? 

Read more: https://bit.ly/469foAi  

 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.