GECF takes part in the Future Energy Asia 2020
Gas Exporting Countries Forum was invited to introduce its expertise and views on the long-term outlook for natural gas in the Asia region at the Future Energy Asia 2020 conference, held in Bangkok, Thailand on February 12-14, 2020.
During his speech GECF representative, Mr. Seyed Mohsen Razavi, Energy Technology Analyst from the Energy Economics and Forecasting Department elaborated on the role of natural gas and LNG in the future of the Asia Pacific region titled as "Asia LNG Outlook 2050: The Impacts of Technology Advancement and Strategies on Asia Future Energy Mix.”
He emphasised the auspicious role of natural gas in the region’s energy transition by presenting the latest results of the GECF modelling and GGO 2050. The share of natural gas in this region is forecast to rise from currently around 11% to more than 16% by 2050 in the Reference Case Scenario. Other scenarios developed within the GGO 2050, such as Carbon Mitigation Scenario and Energy Transition Scenario expect shares of 18% and 19% respectively, for the natural gas in Asia. This implies that natural gas will be well-positioned in the future of the region, especially when carbon mitigation policies and technology advancement are taken into account.
According to GGO 2050, Asia Pacific region maintains its share of 75% in global LNG imports by 2050 with more diversified importer countries. Niche and new markets will accommodate more than 40% of the total region LNG imports.
Future Energy Asia exhibition and conference is an annual event held in Bangkok and hosted in partnership with the Thai Ministry of Energy. It aims to bring together the complete oil, gas and energy value chain, addressing industry’s drive to improve cost-effectiveness, efficiency and ensure safety across projects while providing affordable and sustainable energy supplies to market.
This year the conference was focusing on the continuous energy shift within the region towards a cleaner and more sustainable future where the natural gas will play a promising role. The three days were carefully designed to help drive collaboration and exchange view among the analysts and stakeholders.