CERAWEEK Southeast Asia’s growth, energy transition relies on gas | – #CERAWEEK #Southeast #Asias #growth #energy #transition #relies #gas
March 8 (Reuters) – Southeast Asia’s future economic growth and commitments to net zero emissions goals will have a major impact on the region’s access to affordable natural gas, a study released this week showed.
Asian Natural Gas and Paul Everingham, chief executive of the Energy Association (ANGEA), last year’s senior gas prices pose a threat to the region’s developing economies, with some switching back to coal because of the cost, he said.
“In addition to Asia Pacific and possibly North America gas unless delivered,” Everingham said, “Southeast Asia is likely to remain energy poor and not meet its growth or GDP targets for the next 30 to 40 years. “, he added, referring to the results of the investigation.
North America has gas reserves and the ability to bring LNG to market quickly and lower the price, he said.
China is expected to remain a major importer of LNG as it reduces investment in foreign coal and increases regasification and storage capacity. He said the nation may seek to take equity stakes in LNG production to ensure future supply.
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The study suggests that Japan will increase its use of nuclear power to adhere to its low-emissions strategy and improve energy security, but will remain a major importer of LNG.
ANGEA does not see much room to increase Australia’s LNG output, while rising African export hubs including Mozambique and Angola may take time to expand production.
Several new ones are now or soon to be built USA LNG prices are expected to remain high for the next two years until the export terminal is added to global supplies.
Reporting by Curtis Williams Editing by Gary McWilliams and David Gregorio
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2023-03-09 03:27:36
Source – reuters
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