Wayne Zhang’s Post

The transition to liquefied natural gas (LNG) in Southeast Asian countries and the anticipated rise in demand for this fuel are prompting Japanese companies to expand their LNG operations in the region, particularly as the domestic market's demand diminishes. Natural gas is emerging as a crucial resource for the 10 member states of ASEAN, with countries like Vietnam and the Philippines initiating LNG imports in 2023 to support their gas-fired power plants. In Southeast Asia, there's a growing recognition that transitioning from coal-fired to gas-fired power generation, alongside renewable energy sources, offers a pragmatic solution for reducing carbon emissions. Michiaki Hirose, former president of Tokyo Gas and a prominent figure in Japan's energy sector, emphasised this perspective, underlining Japan's deepening involvement in the energy transition within the region. With Tokyo Gas and Philippine energy firm First Gen poised to jointly operate an LNG terminal in the Philippines pending government approval, there's a clear indication of the collaborative efforts underway to facilitate the transition to LNG as a transitional fuel. The welcome reception of Japanese investments in LNG by Philippine Secretary of Energy Raphael Lotilla signals a mutual commitment to advancing cleaner energy solutions in Southeast Asia. Read more about the article here: https://lnkd.in/g99YH-8e As Japan intensifies its focus on energy transition to ensure energy security, stay informed about the macro trends that will impact the industry and upcoming projects that’ll accelerate the pathway to net-zero at Japan Energy Summit & Exhibition, held from 3 - 5 June 2024, Tokyo Big Sight. Download Conference Brochure to find out more: https://lnkd.in/gRW8eYi9 Secure your delegate pass to engage in compelling keynote presentations, industry panel discussions and case studies in fostering cross-border collaborations toward a low-carbon economy: https://lnkd.in/eEMP_cK7  Brought to you by dmg events: Energy Portfolio - organiser of ADIPEC Exhibition and Conference, Gastech 2024, Global Energy Show Canada, and Future Energy Asia Exhibition & Summit. #JapanEnergySummit #Energy #LNG

"Only When LNG Doesn't make sense: Key Issues in Vietnam's Energy Strategy" In a recent report by Solutions For Our Climate (SFOC), profound concerns have surfaced following an internal feasibility study of the Vietnam Hai Lang LNG project. The report accentuates the substantial involvement of South Korea in propelling the project forward, prompting inquiries into the congruence of corporate motives with overarching energy sustainability objectives. 7/7 perspective 1. High Electricity Prices: The Hai Lang LNG project aims to set electricity prices at 2,596.5 VND/kWh (US$108.8/MWh), which is approximately 70% higher than the average price of electricity generated at major coal plants in Vietnam. 2. Economic Burden: Vietnamese state utility Electricity of Vietnam (EVN) could spend up to US$1 billion per year on electricity generated from the Hai Lang gas plant, exacerbating its financial losses. 3. Heavy Investment: The South Korean and Vietnamese joint-owned Hai Lang LNG Project is valued at US$2.3 billion, with a significant portion of this investment at risk if the project is deemed economically unfeasible. 4. Renewable Energy Potential: Vietnam leads Southeast Asia in solar and wind power capacity, accounting for two-thirds of the region’s total renewable energy capacity. 5. Renewable Cost Advantage: Utility-scale solar in Vietnam is already cheaper than new coal and gas plants, highlighting the economic benefits of renewable energy investments. 6. Future Gas Plans: Vietnam plans to develop over 22 GW of new LNG power capacity by 2030, up from zero operational capacity currently, as part of its broader energy strategy. 7. Energy Mix Shift: By 2030, domestically produced gas and LNG will constitute approximately 24.8% of Vietnam's energy mix, a significant increase from 9 GW in 2020. #VietnamLNG #EnergyTransition #CorporateInfluence #RenewableEnergy #ClimateAction #Sustainability #FossilFuels

Our regular wrap of the energy news that's important to Asia! Featured in this edition: ▪ A long-awaited Vietnamese gas project set to proceed ▪ Mitsui O.S.K. Lines, Ltd. starts operations on Asia's first FSRU gas-to-power project. ▪ A breakdown on the realities of the US LNG pause by Institute of Energy Economics, Japan - IEEJ ▪ Reflections on CERAWeek and a pragmatic energy transition ▪ A big week in decarbonisation for JERA Co., Inc. ▪ South Korean hydrogen cluster continues to take shape ▪ First-of-their kind CO2 carriers hit the water for Northern Lights JV #lng #naturalgas #energytransition #energysecurity #decarbonisation #decarbonization

TotalEnergies will deliver 2 million tons of LNG per year to Sinopec, for 15 years, starting in 2028.  totalenergies.com Thanks to this major agreement with one of the leading LNG players in the country, TotalEnergies strengthens its long-term position in the LNG market in China, the largest market in the world. This agreement comes within the strategic cooperation agreement signed earlier this year between TotalEnergies and Sinopec during President Xi Jinping’s state visit to France. In China, natural gas is a key component of the energy transition as it mitigates the intermittency of rapidly growing renewable energies and helps reduce greenhouse gas emissions when it replaces coal in electricity production. “We are delighted to have been chosen by Sinopec to supply 2 million tons of LNG to China, the largest LNG importing country in the world. This new agreement demonstrates the competitiveness of TotalEnergies’ LNG business and allows us to continue growing our long-ter

Korean Giant Expresses Interest in Implementing New Model Clean Energy Project in Vietnam     Recently, in Canberra, Australia, Prime Minister Pham Minh Chinh had a meeting with the leadership of the SK Group from South Korea. Photo: VGP Accordingly, at the meeting, the National Director of SK in Australia introduced the Prime Minister to the carbon-neutral LNG value chain with cross-border projects being implemented in many countries (South Korea, Australia, Timor Leste). Specifically, these projects use natural gas to produce green hydrogen, with the key point being to use depleted gas fields as permanent storage locations for CO2 emitted during the production process. SK leaders said that this project chain can generate clean energy as it sequesters 98% of the emitted gases. Considering Vietnam as a second home, the SK Group hopes to apply this production model in Vietnam. SK leaders share that the ongoing project chain of SK requires the participation of 3 countries, but with the advantages of Vietnam, it can be fully implemented in Vietnam alone. About Vietnam, the Prime Minister stated that hydrogen is currently one of Vietnam’s priority areas. In response to the Group’s proposal, the Prime Minister requested further information on the LNG extraction costs of the project chain in Australia. At the same time, the Prime Minister also asked SK to work with the Ministry of Planning and Investment and relevant agencies to carry out the necessary work to facilitate project preparation in accordance with regulations. The agencies will implement the procedures assigned to them based on their functions, tasks, and powers. The Prime Minister also welcomed SK’s long-term cooperation with the Vietnam National Oil and Gas Group (PVN) as a capable and experienced partner in this field, while promoting healthy competition with other partners.           SK is one of the largest conglomerates in South Korea and is currently one of the major investors in mergers and acquisitions (M&A) deals in Vietnam.           The post Korean Giant Expresses Interest in Implementing New Model Clean Energy Project in Vietnam appeared first on xe.today.

Grain LNG's capacity boost featured on Montel Group News. We were pleased to have Montel News at Grain LNG this week, highlighting our plans to increase import capacity by 25% next year. This expansion will enhance our ability to support the UK's energy flexibility during the transition to renewable sources. 🔗 Highlights: ↳ New capacity: Aiming for 20 million tonnes per annum, up from 16 million. ↳ Additional storage: Constructing a ninth tank to boost storage by 20% to 1.2 million cubic meters. Simon Culkin, our terminal manager, shared insights into how this expansion not only supports the UK but also provides essential backup for renewable energy when needed. "As renewable energy usage increases, LNG's role as a flexible, dependable source becomes ever more crucial," says Culkin. Stay informed about how we're securing energy flexibility for the UK and Europe: Read the full article on Montel News. https://lnkd.in/etW5SaDJ #GrainLNG #UKenergy #LNG #MontelNews

Ensuring energy security: Singapore's second #LNG terminal at the crossroads of demand growth and renewable ambitions A second liquefied natural gas (LNG) terminal, set to be operational before 2030, is projected to face no significant stranding risk due to the city-state's anticipated higher future #electricity demand and the current immaturity of alternative clean power sources, according to second minister for trade and industry Tan See Leng. Despite plans to import clean electricity and shift towards #renewables, #naturalgas will remain crucial for #energysecurity as new low-carbon energy sources are still unproven. Learn more through the link below. #Energy #Climate https://lnkd.in/gKKEkKA6

[Hanyang-GS ENERGY Signed a Shareholders' Agreement to Develop Northeast Asia LNG Hub Terminal] We are thrilled to announce a landmark partnership between Hanyang and #GSENERGY for the establishment of the Northeast Asia LNG Hub Terminal in Myodo, Yeosu. This joint venture is set to harness our collective expertise to not only construct a world-class LNG terminal but also to nurture its growth as a pioneering Eco Energy Hub for the region. Hanyang will spearhead the construction efforts of this monumental 3.12 million square meter project designed to house four 200,00 kl LNG storage tanks, state-of-the-art vaporization transmission facilities, and accommodating docks for vessels up to 100,000 DWT. Following this agreement with #GSENERGY , we are set to commence the construction of units 1 and 2 of the LNG storage tanks. Our collaboration will secure additional demands, ensuring the operational readiness of commercial activities by the end of 2027. Looking beyond LNG, Hanyang is strategizing an expansion into emergent and vital energy sectors such as hydrogen, CCUS, and a broader range of renewable sources, integral to the Myodo Eco Energy Hub. This ambitious endeavor, underpinned by an investment of approximately 15.5 trillion won, is a cornerstone in our commitment to advancing sustainable energy development and achieving carbon neutrality. Hanyang’s ‘News’ March 27th, 2024

Japan is considering a new Strategic Energy Plan by the end of FY 2024-25 as the Ministry of Economy, Trade and Industry strives to address the challenges of committing to long-term LNG contracts, strengthening energy security, and driving decarbonisation.  The country is boosting its LNG supply security by diversifying its sources to Canada, US and Qatar while working with existing suppliers from Australia, Malaysia and Russia. Stay informed about the industry trends and upcoming projects that will accelerate the pathway to net-zero at the Japan Energy Summit & Exhibition. From 18 - 20 June 2025, decision-makers, policymakers, investors and industry professionals will convene in Tokyo to spearhead Japan's transition toward a sustainable, low-carbon future. Download the Event Brochure to find out more: https://lnkd.in/gbrz7fqe   Brought to you by dmg events: Energy Portfolio - organiser of ADIPEC Exhibition and Conference, Gastech 2024, Global Energy Show Canada, and Future Energy Asia Exhibition & Summit.   #JapanEnergySummit #Energy #LNG