Importance of Gas in Supporting Asian Growth Key Focus of Gas Asia Summit

The importance of natural gas and liquefied natural gas (LNG) in supporting Asia’s economic growth will be a focus of the inaugural Gas Asia Summit, which will take place in Singapore on 24 and 25 October.

Mr S Iswaran, Minister in Prime Minister’s Office and Second Minister for Home Affairs and Trade and Industry, will discuss this in his keynote speech. He will also share views on the role that Singapore can play within this future energy landscape. The Gas Asia Summit will form an integral part of the Singapore International Energy Week, which is organised by the Energy Market Authority (EMA). It will cover strategic topics, including security of supply and demand of gas and LNG to the region. It will also provide a platform for robust discussions between major gas producers, consumers, investors, governments and contractors throughout the gas infrastructure supply chain.

The Ministry of Trade and Industry stated, “Minister Iswaran will speak at the Gas Asia Summit on how natural gas has played, and will continue to play, an important role in Singapore’s energy mix. With the upcoming LNG terminal, Singapore will be well-positioned to capitalise on the latest developments in global gas markets.”

The increasing importance of gas and LNG is apparent throughout Southeast Asia as rapidly expanding regional economies move towards cleaner, greener gas-fired power generation to supply demand for electricity from both industrial and domestic users. Gas has been cited by many as an answer to a more energy-efficient, plentiful and cleaner form of electricity power generation that allows regional economies to continue driving economic growth and improve standards of living, while continuing to reduce national carbon footprints.

The Summit is supported by International Enterprise (IE) Singapore, the government agency that promotes overseas growth of Singapore-based enterprises and international trade. Mr Lim Ban Hoe, Group Director for Transport and Logistics, IE Singapore said, “We see an increasing demand for gas and LNG worldwide. In particular, global LNG imports will be driven by Asia’s growing needs, and the proportion of LNG in global gas trade is expected to increase to 40% by 2020 . This demand will be supported by growing supply from Latin America, Africa and parts of Asia.

Singapore oil & gas players should seize opportunities from this development, providing services from upstream exploration and extraction, to liquefaction, shipping, pipelines and storage. The Gas Asia Summit is a good platform for our companies to reach out to potential partners, as well as gain better understanding of the specific technology and skills required by major industry players.”

Major speakers will attend the event, which will take place at the Marina Bay Sands Expo and Convention Centre. These speakers represent various companies, including Cheniere, Total, GDF Suez, BP, Gazprom, Shell, United States Department of Energy, GAIL (India), Tokyo Gas, Petromin, Qatargas, Anadarko, Societe Generale, Wood Mackenzie and Panama Canal Authority.

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LNG World News Staff, October 16, 2012