Gastech Singapore 2023 backs a unified approach to net zero
The global energy sector’s challenges undergo scrutiny
Ministers, CEOs, and international business leaders have committed to unified industry action towards net zero on the opening day of Gastech 2023 in Singapore.
Gastech 2023, the world’s most significant meeting place for natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies, opened at the Singapore Expo on September 5, 2023.
The first day of the four-day event, organised by DMG Events, it featured insightful contributions from policymakers, CEOs, and business leaders on the global energy sector’s multiple, interconnected challenges.
Delegates discussed the critical role of natural gas, LNG, and hydrogen in Asia and beyond as crucial enablers of future energy security and accelerators of the energy transition.
‘Profound energy transition’
Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, Singapore, welcomed attendees to Singapore at the opening ceremony on September 5, saying: “The world is undergoing a profound energy transition, getting to net zero while preserving energy security and economic competitiveness.
“Moving forward, the demand for natural gas in Asia will only continue to grow. Singapore is committed to satisfying the region’s energy needs.”
The Strategic Conference began with a high-level discussion between international energy ministers on how natural gas and LNG will enable the global energy industry to meet near-term demand for low-carbon energy.
Natural gas focus
Tarek El Molla, Egypt’s Minister of Petroleum and Mineral Resources, shared valuable insights on the rapid expansion of natural gas and LNG in the region: “We have all agreed that natural gas is the best choice for the energy transition.
“Egypt has built on the momentum of COP27, but continued investment, as well as sustained cooperation among countries, is very much needed.”
Also speaking at the Gastech 2023 Ministerial Session, Joseph McMonigle, the Secretary General of the International Energy Forum, emphasised the need for inclusive dialogue on decarbonisation ahead of the COP28 Summit [in Dubai, UAE]: “What we have learned is that this linear approach to net zero is an outdated approach that is not workable in many areas around the world.
COP28
“We need everyone at the table, and I hope that at this COP [28], we will focus on progress and not perfection. We can do so many things to progress on climate change, and natural gas will help the world decarbonise.”
Industry heads attended a CEO panel from Baker Hughes, Woodside Energy, ADNOC, Mitsubishi Corporation and Pavilion Energy, focused on transforming global energy through collaborative business models and constructive partnerships.
Speakers shared insights into the new business models deployed to support a net zero energy future, with low-carbon solutions applied to the hard-to-abate industries.
Resilient LNG
Another high-level session saw business leaders from ExxonMobil, Eni, Chevron, Shell, and Vitol delve into the dynamic global LNG market as a resilient industry with the potential to meet the demands of the future energy system.
Participants discussed how Europe’s changing LNG needs are forecast to outpace global supply capacity until the middle of this decade, resulting in heightened levels of competition as Asian demand picks up.
Gastech, which takes place annually, is the world’s largest natural gas, LNG, hydrogen, low carbon solutions and climate technologies event, attracting upwards of 40,000 international attendees and providing heads of state, government officials, ministers and global business leaders, disruptors, innovators, and students with a platform to engage in conversation.
