This week in energy: more milestones for Vietnam, CCS collaboration taking shape and the rise (and rise) of US gas
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 couple of weeks.
Vietnam LNG HQ ready to go
Vietnam continues to chalk up milestones in its energy transition – with the recent announcement that the country’s first LNG warehouse and terminal complex is now ready to be put into commercial use.
The facility successfully completed a trial run on Vietnam’s historic inaugural shipment of LNG, which arrived in July.
Vietnam has ambitious plans to transition to gas and renewables for electricity generation and reduce its long-standing reliance on coal, with LNG expected to account for 15 per cent of power supply by 2030.
Read more: https://bit.ly/46bMRK3
Japan-Malaysia CCS collaboration continues to take shape
There has been some very exciting progress on upcoming Japanese-Malaysian partnerships in carbon capture and storage (CCS) – with Petronas, the Ministry of Trade, Economy and Industry (METI) and the Japan Organization for Metals and Energy Security (JOGMEC) signing an agreement to cooperate on the transboundary transport and storage of CO2.
Malaysia, which has good storage conditions, is working hard to advance its nascent CCS industry, while Japan is seeking opportunities to store emissions from electricity generation, oil refineries, steel, chemicals, pulp/paper and cement.
Projects in Malaysia were among seven selected worldwide by JOGMEC as advanced carbon capture and storage (CCS) projects to enter operations by 2030.
Read more: https://bit.ly/45myFwK
Australia opens future gas strategy consultation
Australia’s consultation on a future gas strategy – a discussion paper for which was published last week – will be closely watched by LNG importers in Asia.
With that in mind, it was encouraging to see Resources Minister Madeleine King and her office recognising the vital role Australia’s gas plays in Asia, particularly Japan.
“Japanese investment helped build the Australian resources sector that has made our country so strong,” a spokesman told the Australian Financial Review.
“This relationship is not only crucial to the economic health of our nation, but to millions of people throughout Asia who rely on Australian resources to build their cities, heat their homes and help produce their food. Australia is a reliable supplier of energy to Japan and always will be.”
Read more: https://bit.ly/3QaIzxe
ANGEA’s Quarterly Q&A with Paul Everingham
It’s been a busy few months for ANGEA, with our first year of full-scale operations coinciding with our home city of Singapore hosting Gastech.
In September’s Quarterly Q&A, CEO Paul Everingham discusses the significance of Gastech, the exciting potential of CCS, the current global energy situation, responsible use of gas and ANGEA’s outlook for the next 12 months.
Read more: https://bit.ly/45cXCum
Paul sits down with Petroleum Economist
Another key element of Gastech was the opportunity for ANGEA to catch up with industry media, including Paul Hickin, editor-in-chief at the Petroleum Economist Network.
The two Pauls sat down for a wide-ranging chat that included progress on coal-to-gas switching in Asia, the balance between gas prices and supply, and ANGEA’s work in a wide range of countries throughout the region.
Read the full interview: https://bit.ly/46sDMw9
Port of Singapore continues to get award recognition
It’s been a period of international recognition for the Maritime and Port Authority of Singapore (MPA) – with Singapore being named “best global seaport” for a third straight time and “best seaport in Asia” for the 35th time in a row at the Asian Freight, Logistics and Supply Chain Awards.
Singapore was also recognised recently as the world’s top maritime centre for the 10th consecutive year by the XInhua News Agency Baltic International Shipping Centre Development Index Report.
World-class port facilities have been a major factor in Singapore’s emergence as a global energy hub that will be pivotal to energy transition in Asia.
JERA to provide decarbonisation assistance to EVN
Another very positive piece of collaboration out of Vietnam, where ANGEA member company JERA will be working with EVN to help unlock opportunities for decarbonisation in power generation.
JERA’s significant experience in energy transition can be of significant assistance to Vietnam, which is targeting net zero by 2050 on the back of rapid expansion of its gas-fired power capabilities.
A graph that explains the remarkable rise of the US as a global gas supplier
As recently as 2016, the US was a net gas importer – now, in a remarkable period of growth on the back of the “shale revolution” it’s the world’s biggest LNG exporter in the first half of 2023.
The graph below, produced by the US Energy Information Administration, gives a pretty clear indication of what that growth looks like.
The introduction of additional gas supply from the US over the next five years will help support Asian energy transition. But it’s critical that new projects and expansions continue to come online in the 2030s and beyond to meet demand from Asia’s fast-growing emerging economies.
Read our blog on why North America’s gas is so important: https://bit.ly/3ptavSt
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.