This week in energy: the urgent nature of transition in Asia, creating a new value chain and engagement with Australia
Each week, the Asia Natural Gas and Energy Association (ANGEA) compiles stories from the energy world that have caught our eye over the course of the previous seven days.
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 seven days…
Why Asian energy transition is both critical and urgent
One of the consistent key messages ANGEA is keen to promote is how integral Asia is to global energy transition and ambitions to achieve net zero.
It’s always encouraging to see someone else publicly supporting that viewpoint – in this case Michael Sieg from Thomas Lloyd, providing an investment perspective on the equation in an interview with ESG Clarity.
Read more: http://bit.ly/3Z9elg8
Dan Amman, ExxonMobil’s President of Low Carbon Solutions, told Nikkei about how the production of hydrogen and then ammonia would help Asia decarbonise.
Read more: https://bit.ly/3KAOqcy
The global consequences of energy policy decisions
“As an organisation, ANGEA recognises that these are complex times and there are few easy decisions for any government. What we ask is that decisions be approached with an appreciation for all the consequences, near and afar.”
ANGEA was grateful to the Australian Financial Review for publishing an opinion article last week from our CEO Paul Everingham about the Australian Government’s recent natural gas policy changes – and the unintended on-flow effects it has for Asia.
Read more: https://bit.ly/3XIr1sB
The growing profile of gas as a renewables partner
More strong statistical data released by the Gas Exporting Countries Forum – with projections that the share of gas in energy mixes across the ASEAN region will grow to 24 per cent by 2050.
This again highlights how natural gas can complement advancements in renewable energy capabilities by providing stability to power grids with a far lower emissions profile than coal.
Read more: https://bit.ly/3kre497
?Held a productive meeting with ASEAN Secretary General HE Kao Kim Hourn in Jakarta, discussing potential areas of cooperation and the role of #naturalgas in the region. "Investment in the gas industry is crucial for a sustainable future in #ASEAN." – HE Hamel. pic.twitter.com/z2F3MvmARG
— Gas Exporting Countries Forum (@GECF_News) February 21, 2023
Global investment in carbon capture hits another peak
Very pleasing to learn that growth in investment in carbon capture and storage continues on a steep trajectory – with the $3 billion invested in 2021 jumping all the way to $6.4 billion in 2022, according to Saudi Arabia’s King Abdullah Petroleum Studies and Research Center.
But it is also clear that much more investment is going to be needed. Developments in Carbon Capture Utilisation and Storage are going to be particularly important to countries in Asia meeting their climate targets.
Read more: http://bit.ly/3Y7OUtQ
Is methanol a key to affordable carbon capture?
There was a little bit of news about this a few weeks back. But it’s excellent to see a bit more in-depth reporting emerging about the very promising carbon capture work being undertaken by Pacific Northwest National Laboratory in the US.
More specifically this article focusses on the potential for methanol to emerge as a key element in solving one of carbon capture’s biggest challenges – how to incentivise hard-to-abate industries and businesses within them to adopt CCUS. Pure methanol was first produced in 1661 and can be used as a fuel or solvent, and as an ingredient in plastics, paint, construction materials, and car parts. But this could become one of its most important applications.
Read more: http://bit.ly/3ISVeBc
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.