Natural gas plays a vital role in the energy transition, on a global scale, and, more locally, can drive ASEAN towards a secure, sustainable energy future and a prosperous economy.
The 7th ASEAN Energy Outlook (AEO7) forecasts a significant increase in energy demand in the region, with total final energy consumption (TFEC) projected to reach 473.1 Mtoe by 2025 and 1,281.7 Mtoe by 2050. In this scenario, fossil fuels, including natural gas, are expected to continue supplying the majority of the energy demand. Natural gas provides a cleaner alternative to traditional fossil fuels, offering lower carbon emissions and enhanced energy security. Moreover, its availability in the region reduces dependence on imported fuels, contributing to stable economic growth.
Natural gas-fired power plants are crucial for meeting the growing electricity demand in the ASEAN region. They offer a more flexible and efficient means of generating electricity compared to coal-fired power plants. Natural gas power plants provide a reliable and consistent electricity supply, supporting industrial development, commercial activities, and residential needs.
Natural gas serves as a vital feedstock for various industries. It is used as a raw material for the production of chemicals, fertilizers, plastics, and other essential products. Access to affordable natural gas enables industrial growth and enhances competitiveness, stimulating economic development in sectors such as manufacturing, petrochemicals and maritime transport.
The use of natural gas necessitates the development of infrastructure such as pipelines, storage facilities, and liquefied natural gas (LNG) terminals. These infrastructure projects create employment opportunities and foster economic growth. They also facilitate regional connectivity and trade by enabling the transport and distribution of natural gas across borders.
Natural gas production and related activities generate revenue, investment opportunities, and tax income for governments. Additionally, according to the AEO7, natural gas has a potential of facilitating low-emission development in ASEAN. Integrating natural gas with renewable energy sources presents an opportunity to achieve a more balanced and sustainable energy mix, reducing greenhouse gas emissions and promoting cleaner energy systems. Lastly, the development of natural gas resources and infrastructure contributes a lot to reducing air pollution.<
The first session will bring together senior-level representatives from the ASEAN region and beyond to discuss the natural gas potential and benefits in the region, while the second session will focus on expert discussion on the role natural gas can play in the energy transition. Through engaging discussions and collaborative strategies, the forum aims to harness the advantages of natural gas while addressing the challenges, fostering dialogue among stakeholders, and accelerating sustainable energy transition and low-carbon development globally and at the regional level.
Welcome remarks from organizers and overview
Valérie Ducrot,Executive Director, Global Gas Centre
Natural Gas for Social-Economic Development in the ASEAN Region
The Role of Natural Gas in Energy Transition