The fifth edition of Gas Asia Summit & Exhibition (GAS) 2017 kicked off yesterday at Singapore International Energy Week (SIEW) with hard-hitting insights from all aspects of the gas and Liquefied Natural Gas (LNG) value chain. With the global gas demand expected to grow by 1.6 percent a year for the next five years, according to International Energy Agency (IEA), discussions at GAS will provide a crucial overview of the industry to better navigate the highly dynamic sector and seize opportunities timely.
Themed “Connecting the Gas & LNG Value Chain across Asia”, GAS 2017 is expected to attract over 1,700 regional and international attendees over the three-day event.
At the start of the summit, Mr Gerard Leeuwenburgh, Vice-President – Asia, dmg :: events Asia Pacific Pte Ltd, set the stage by emphasising Gas & LNG’s crucial role in realising the transformation towards a more carbon neutral energy supply for a growing population in Asia in the coming years.
With Singapore earmarked to be the future Asian LNG hub, the Singapore government has put in place a number of initiatives. In an announcement made on 25 October by Dr Koh Poh Koon, Singapore’s Senior Minister of State, Ministry of Trade and Industry and Ministry of National Development, Singapore has formally issued Pavilion Gas and Shell Eastern Trading Limited with LNG import licences, marking the end of the first exclusive franchise that was previously awarded to BG, now Shell. In addition, Singapore has lifted the moratorium on Piped Natural Gas (PNG) import to encourage greater competition among gas suppliers.
A number of speakers echoed the importance of moving away from the traditional oil index to an Asian-based price index. Having gas pricing that better reflects gas supply and demand dynamics here remains vital to the long-term prospects of the gas market. New price signals will create greater contract and market flexibility to the benefit of consumers and producers.
Supportive policies across the region will be vital to maintain the LNG industry’s prospect in the long term. Dr Sun Xian Sheng, Secretary-General, International Energy Forum (IEF), shares the sentiment. “The role of policy support is very important to ensure the demand for LNG in Asia,” said Dr Sun.
An extension of the conference, the free-to-attend Exhibition was also abuzz with activity. Over 1,000 visitors have registered to visit the exhibition floor over the two days to seek new business opportunities and to help strengthen existing relations through the latest developments. Exhibitors took the opportunity to showcase their innovations and solutions crucial to advance the market further.
An integral part of SIEW and a legacy event of Gastech Conference and Exhibition (the world’s largest event for natural gas and LNG industry), GAS 2017 continues to be a crucial business platform for professionals across the natural gas and LNG industry to gather and discuss regional developments, discover innovative solutions and build profitable business relations.
Today’s conference and the workshops that will take place on Friday (27 October 2017) will focus on commercial and technical streams to will help delegates tackle challenges with expert advice and uncover new solutions for their business.
For more information about the summit, visit www.gasasiasummit.com
Please click here for the full opening remarks by SMS Koh