With the International Energy Agency (IEA) predicting a growing role for natural gas globally in the world’s energy use, the demand for liquefied natural gas (LNG) is expected to double by 2030. Against this backdrop, Gas Asia Summit & Exhibition 2016 officially opened today with Minister for Trade and Industry (Industry), Mr S Iswaran, officiating the opening of the three day conference at the Marina Bay Sands Expo & Convention Centre in Singapore.
In his opening comments, Minister Iswaran remarked, “It is important for a small country like Singapore, which is highly dependent on gas imports, to stay nimble and adaptable to emerging trends and changing global developments. To this end, Singapore has embarked on a series of policy initiatives to more towards a more dynamic gas market.”
The event was attended by over 300 international industry practitioners, business leaders, and regional and international representatives including ambassadors and dignitaries from Singapore, Japan, New Zealand, UK, US, Canada, Brunei, India, Philippines, Pakistan, Brazil, and Costa Rica.
The opening ceremony also welcomed keynote addresses from His Excellency Dr Rashid Alleem, Chairman of the Sharjah Electricity & Water Authority (SEWA) and Amos J Hochstein, Special Envoy and Coordinator for International Energy Affairs for the U.S. Department of State. They outlined the importance of energy sustainability and conservation and provided an insight into energy relations between the US and Asia in the coming years respectively.
“LNG is the buzzword now. Because of the fluctuating oil prices globally, we feel more and more economies will start to use LNG as an energy resource,” said Dr Alleem, while emphasising the need for the industry to be sustainable and environmentally-friendly.
Earlier in the week on Monday (24 October 2016), experts and leading energy authorities including Dr Fatih Birol, Executive Director for the International Energy Agency (IEA), David Gray, Chairman for the UK Gas & Electricity Markets Authority (GEMA), and Charif Souki, Co-Founder & Chairman for Tellurian Investments, also each placed emphasis on the continued use of natural gas and LNG.
They urged governments and industry leaders to look at introducing more favourable regulations and market elements to attract buyers, increase the use of gas and LNG in fuel mixes and encouraged further developments in downstream projects. Each advocated the continued use of gas and LNG with Charif Souki remarking that it could even become a commodity market by its own.
Chief Executive for the Energy Market Authority of Singapore, Ng Wai Choong, along with other invited guests, also spoke to participating exhibitors and attendees. Despite tough market conditions locally, cooperation across the supply chain and industry was evident.
Tomorrow a total of 13 commercial, technical and special focus sessions are expected to take place featuring speakers from National Development and Reform Commission, PT Pertamina (Persero), Bernhard Schulte Shipmanagement, PNOC – Exploration Corporation, Gaztransport & Technigaz (GTT) - GTT SEA Pte Ltd, AG&P National Korea Maritime & Ocean University, POSCO, Hyundai Heavy Industries, JERA Co.,Inc., Tokyo Gas Asia and more.
On Friday 28 October, Ashurst and AG&P will lead 2 half day workshops offsite on "Developing LNG to Power Projects in South-East Asia" and "Democratizing LNG in South East Asia: Lowering the cost of small and mid-scale LNG distribution within the ASEAN region" respectively.
The free-to-attend exhibition has attracted over 1,500 international registrations and offers an ideal platform and space for bilateral business opportunities. Further insights and discussions are expected across the next two days (27/28 October) at both GAS 2016 conference and exhibition.