Looking towards a more sustainable energy future at Gastech

The global energy landscape is at an inflexion point. What we do now matters and will have profound repercussions for our future.

As we progress with the energy transition, there is collective wisdom on the need to remain agnostic to the different pathways to a low-carbon future. Innovations in carbon capture technologies, hydrogen, climate technology as well as investments in the voluntary carbon market to jointly tackle this generational challenge are growing. So is the recognition of natural gas as the steady transition fuel and the investments needed for it to remain so.

It might seem inconceivable at one point that the industry would witness the banding together of world economies to combat the challenges of climate change and bring the energy transition dialogue to the fore. To add to the complexities – the COVID-19 pandemic, the Russian/Ukraine conflict, record fluctuations of natural gas prices, and the waning interests of financiers towards projects involving fossil fuels ensued. Energy academia and governments alike went from questioning whether natural gas still has its place to seeing it as an acceptable solution to the energy trilemma. All these happened within the decade since Gastech was last held in Singapore in 2015.

The global ambition of a sustainable future needs to be balanced with the realities of affordability and security. As recent events attest, pivoting one way without building in capacities to handle black swan events can painfully undo the years of progress achieved. Many challenges of the energy transition journey will also be played out in Asia and the Global South.

Singapore plays an important role as the energy hub for the Asia-Pacific region and has continued to strengthen its trading capabilities and expand its existing import facilities. Singapore is a signatory of the Paris Accord and is committed to the Climate Pledge, raising its national climate target to achieve net zero greenhouse gas emissions by 2050.

Pavilion Energy is headquartered in Singapore and actively advocates natural gas as a transition fuel of choice. We established business streams to help our customers in Asia and in Europe tackle the energy trilemma. In the maritime sector, we championed LNG bunkering in the port of Singapore and established partner networks in Europe and in China. For customers with hard-to-abate emissions, our Environmental Solutions team offer premium carbon credits from quality nature-based solutions.

We see reporting as an important step towards decarbonisation and together with QatarEnergy and Chevron, we developed the ‘Statement of Greenhouse Gas Emissions (SGE) Methodology’, to report greenhouse gas emissions from wellhead-to-discharge terminal. This methodology has been made publicly available to encourage industry-wide adoption. We are also keeping a keen eye on future fuels and technologies – evaluating the commercial and technical potential of alternative fuels such as biomethane, hydrogen, and ammonia, and studies into Carbon Capture, Utilisation and Storage (CCUS) technologies.

As we tackle the challenges of the post-Covid world, it is key that we come together for honest conversations and strengthen our collective will to achieve a more sustainable energy future.

We welcome Gastech 2023 and the world’s energy thought leaders, policymakers and investors to Singapore’s shores. We are excited to join in the meaningful conversations surrounding energy security and transition and look forward to hosting you in Singapore.

Gastech is at the heart of natural gas, LNG, hydrogen, low-carbon solutions, and climate technologies

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