In the October 2024 instalment of the quarterly series, Paul Everingham, CEO of the Asia Natural Gas and Energy Association (ANGEA), reflects on recent engagement activities in the United States, the world’s understanding of Asia’s energy circumstances, and his expectations for the upcoming COP29. He also shares insights from his two years of leadership at ANGEA and outlines the organisation’s plans for the rest of 2024.
Expanding International Influence and Raising Awareness of Asia’s Energy Needs
In September, Everingham spent considerable time in the United States, participating in events such as Gastech and Climate Week. He began in Houston for the Gastech conference, during which ANGEA partnered with LNG Allies to host an Asia-US LNG Roundtable, attracting global participants and fostering open and meaningful discussions. He then travelled to New York to take part in IETA’s North American Climate Summit, where he co-hosted a panel discussion with the US Chamber of Commerce’s Global Energy Institute, focusing on the role of natural gas in Asia’s energy transition. This highlighted the importance of natural gas in enhancing energy security and reducing emissions in Asia.
The Future of Asia’s Energy: Practical Needs and Policy Uncertainty
Everingham believes: “Some multilateral organisations are becoming more pragmatic about Asia’s energy transition.” For instance, Vietnam’s first LNG-to-power facility recently secured significant financing, including support from Citibank and Swiss Export Risk Insurance, indicating that financial institutions are becoming more willing to back natural gas development. However, LNG production policies in the US and Australia remain uncertain, which is impacting energy planning in Asia.
New Blueprint for Energy Transition
Everingham stated: “I hope COP29 will explicitly endorse the role of natural gas in the energy transition, particularly for emerging nations that still rely on coal.” Natural gas is crucial for ensuring energy security and reducing emissions, yet this aspect is often overlooked by multilateral communications.
In the final weeks of 2024, ANGEA will attend the Pilipinas Conference in the Philippines and engage with key local energy stakeholders. Additionally, ANGEA’s Cross-Border Carbon Capture and Storage (CCS) Study is nearing completion, with the report and regional guidelines soon to be released. This project is expected to have a lasting impact on Asia’s progress in emissions reduction.
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