|Asia Pacific to lead foray as world enters the Golden Age of Gas |
|Malaysia’s First LNG - Regasification Terminal Reaches Completion|
4 June 2012, Kuala Lumpur - The 25th World Gas Conference, organised by the International Gas Union (IGU) under the Malaysian triennium today announced the success of the advocacy work undertaken for the past three years, as the world enters the ‘Golden Age of Gas’.
In recent times, the world has been grappling with one of its worst financial and economic crisis and natural gas was labeled as a ‘fuel without a voice,’ implying it was not featured on the agenda of many policy makers.
“After almost three years of the Malaysian Presidency, the IGU have rallied the industry collectively to make a case for gas…I am pleased that our advocacy efforts have created an impact and continues to gain momentum,” said Datuk (Dr) Abdul Rahim Hashim, President, International Gas Union, 2009-2012 Triennium.
“Policy and decision makers are beginning to seriously consider the virtues of natural gas which addresses the triple challenges of meeting the insatiable global demand for energy, addressing the issues of carbon dioxide and other emissions and the concern on sustainability both in terms of security of supply and long term availability and affordability. Natural gas is a “no regrets” option!” he continued.
The 25th World Gas Conference was officiated by the honorary YAB Dato’ Sri Mohd Najib bin Tun Haji Abdul Razak, Prime Minster of Malaysia.
“The platform and opportunities presented at WGC2012 over the next few days provides a window for players to leverage on emerging opportunities brought about by Asia’s robust growth projection. This is critical as Asia’s rising prominence and significance will to a larger extent help sustain the pace and quality of the global economic recovery,” said Dato’ Sri Mohd Najib.
“Ernst and Young predict that, by 2030, there will be three billion new members of the so-called “global middle class”. This will give rise to a huge spike in demand for consumer items such as cars and household appliances, as well as for services such as travel, which in turn will have an enormous impact on the way the world uses its energy.
“What we urgently need, therefore, is a new paradigm of development that reflects these changing times. We simply can’t afford to allow today’s emerging economies to follow the same “Grow First, Clean Later” model that the early industrialisers adopted. If we do, the consequences for the well-being and security of future generations are almost too frightening to contemplate.
“I believe natural gas has an important role within that paradigm, sustaining development at the same time decoupling it from rising emissions. It may not be a perfect solution but it is without doubt one of the best we have today, offering the lowest carbon footprint of all the fossil fuels and producing less than half the carbon dioxide of coal.
While WGC2012 discusses the new discoveries and availability of gas across the world, and other key issues in the value chain, it also addresses energy security and sustainability.
“We see low carbon technologies not just as a way forward to meet our climate change requirements, but also to enhance energy security. Without doubt, the gas industry has a monumental role to play in the coming decades. I look forward to concrete plans and actions from national decision makers present at WGC2012!” agreed Datuk Rahim Hashim.
Also presenting at the opening ceremony, Tan Sri Dato’ Shamsul Azhar Abbas, Acting Chairman, President and Chief Executive Officer, PETRONAS said, “With natural gas being abundant, cleaner and arguably more affordable, gas has the potential to fulfill both rising energy needs as well as satisfy the green agenda."
He continued, "The fundamentals of the industry are shifting, which cannot easily be addressed by simply matching supply from reserves to rising global demand. This means that availability of gas does not necessarily ensure accessibility and commercial viability. As such, the industry needs a closer cooperation between suppliers, consumers as well as governments to come up with a new sustainable model based on efficiency and economic viability."
Over the next four days, the 25th World Gas Conference will provide a platform for some of the biggest gas producers and decision makers to address these issues and concerns and set the stage for the world to enter the Golden Age of Gas.
Malaysia’s First LNG-Regasification Project completed in record time
During the opening ceremony of the 25th World Gas Conference, event host PETRONAS launched Malaysia’s first Liquefied Natural Gas (LNG) Regasification Facilities in Melaka. The mechanical completion of the project was done in two years comprising of two Floating Storage Units; a Jetty Regasifcation Unit; a 3km Sub-Sea Pipeline with Cathodic Protection System; and an On-Shore Pipeline comprising of two sections.
The project was developed in anticipation of future increase in gas demand in the face of depleting indigenous gas reserves.
Since 1931, the International Gas Union has been organising the World Gas Conference once every three years. The triennial World Gas Conference and Exhibition is the biggest and most important global gas industry event, attracting 5,000 industry professionals from all over the world and showcasing the latest developments, with information on policies, strategies, technologies, challenges and opportunities. The 25th World Gas Conference will take place in Kuala Lumpur, Malaysia, 4-8 June 2012 with the theme “Gas: Sustaining Future Global Growth.”
WGC2012 will feature 14 keynote speakers, 10 strategic panels, 4 Luncheon Addresses, 47 Technical Sessions, 123 Posters in one interactive showcase, expert forums and 3 task force sessions. For more information, please visit www.wgc2012.com
The International Gas Union (IGU), founded in 1931, is a worldwide non-profit organisation promoting the political, technical and economic progress of the gas industry with the mission to advocate for gas as an integral part of a sustainable global energy system. IGU has more than 110 members worldwide and represents more than 95% of the world's gas market. The members are national gas associations and corporations of the gas industry. The working organization of IGU covers the complete value chain of the gas industry from upstream to downstream. For more information please visit www.igu.org
For further information on WGC2012, please contact :
WGC2012 Conference Secretariat
Level 20, Tower 1, Etiqa Twins, 11, Jalan Pinang
50450 Kuala Lumpur, Malaysia
Tel: +60 3 2171 3477 / +60 3 2171 3575