Natural gas, LNG and hydrogen are increasingly emerging as accelerators of the energy transition, and this will be in sharp focus at the Gastech 2023 Leadership Roundtables being held in Singapore from 5-8 September
Ministers from Africa and Asia last week voiced mutual cooperation to prioritise affordable energy suiting their respective nations, as they met on the sidelines of the G20 Energy Transition Ministerial Meeting (ETMM) to provide an impetus to the priority of a clean energy transition within the G20 and beyond. They also laid emphasis on a South-South knowledge sharing network to advance just energy transition. "South-South cooperation represents a critical opportunity to achieve the 2030 Agenda for Sustainable Development. For the Global South to deliver on their aspirations for energy, climate and development there is an urgent need for collective action. For example, South-South cooperation can help set up new financing mechanisms for energy transition and infrastructure development, and facilitate transfer of expertise, for the benefit of local populations, national economies, and the world at large," said Damilola Ogunbiyi, CEO and special representative of the UN-Secretary General for sustainable enrgy for all, and co-chair of UN-Energy.
The series of 10 invitation-only roundtable discussions will see participation from more than 10 energy ministers and 100 C-suite executives from across APAC, Europe, the US, and beyond, to align on decisive action and tangible solutions accelerating the future of the gas and energy industries and supporting global decarbonisation goals towards a more secure energy future. The sessions will be hosted and moderated by Gastech’s knowledge partner, Wood Mackenzie, alongside other partners including the UN Environment Programme (UNEP), Siemens Energy, and the East Mediterranean Gas Forum.
UNEP will host a Roundtable asking, ‘How will the gas and LNG industry make a step change in its decarbonising efforts?’. UNEP OGMP 2.0 Manager Giulia Ferrini will be joined by representatives from the Gas Exporting Countries Forum (GECF), Zhero, SLB, the World Bank, the Global Centre for Maritime Decarbonisation, ENGIE, Linde, and TES to debate strategies.
Ferrini said, “The oil and gas sector needs to act and curb methane emissions as a first step towards their decarbonisation efforts. It is only through collaboration, accountability, and transparency that industry can be part of the transition to sustainable energy and urgently address the climate crisis.”
Key outcomes from the Gastech 2023 Leadership Roundtables will feed into industry reports produced by Wood Mackenzie, with the aim to support the global energy agenda and inspire the industry to develop the crucial strategies required to accelerate energy progress and meet net zero targets. Simon Flowers, chairman and chief analyst, Wood Mackenzie, said, “The gas outlook remains bullish, for LNG in particular. LNG demand growth, mainly from Asia, requires another 100 mmtpa of new capacity to be built by the mid-2030s on top of that already under construction. While this growth is positive, suppliers also face multiple challenges: margins are at risk from cost inflation, developers must meet growing calls for low-carbon-footprint LNG and securing long-term offtake with Asian buyers is key. I can’t think of a better time and location for the industry to be meeting than in Singapore for this year’s Gastech.”
A session on ‘Hydrogen - unlocking the off-takers and market signals needed to secure demand’ will be led by Siemens Energy, addressing the critical role of hydrogen in the path to net zero and reducing scope 3 emissions in hard-to-abate sectors. Anne-Laure de Chammard, member of the executive board of Siemens Energy, said, “Engaging in conversations about hydrogen becomes crucial as we seek to shape policies, attract investments, and establish markets. Nevertheless, the road towards a thriving hydrogen economy is complex, requiring careful navigation to ensure tangible benefits for all stakeholders while considering its impact on our planet.”
