Latest news with #InternationalGasUnion
Malaysiakini
3 days ago
- Business
- Malaysiakini
Why can't subsidise gas if we're 5th largest exporter
Why can't Malaysia subsidise gas for small traders if the country is the fifth-largest exporter of liquefied natural gas (LNG), asked MCA president Wee Ka Siong. Citing a report from the International Gas Union last year, he said Malaysia had exported approximately seven percent of the LNG in the world in 2023. 'Great in the eyes of the world, but...
Time of India
23-05-2025
- Business
- Time of India
Global LNG trade grows 2.4% to 411.24 MT in 2024; Asia leads rebound in demand
New Delhi: Global liquefied natural gas (LNG) trade grew by 2.4 per cent in 2024, reaching 411.24 million tonnes (MT), connecting 22 exporting markets with 48 importing markets, according to the 2025 World LNG Report released by the International Gas Union (IGU). The Asia Pacific region remained the largest LNG exporting region, with volumes rising to 138.91 MT in 2024—an increase of 4.10 MT over the previous year. The report highlighted a sharp decline in European LNG imports , which dropped by 21.22 MT to 100.07 MT in 2024. The fall was attributed to high storage levels at the start of the year, weak demand, and steady pipeline gas flows. Conversely, LNG demand in Asia rebounded during the year. China and India recorded strong year-on-year growth in spot LNG imports, driven by extreme heat events, ongoing infrastructure expansions, and increased use of gas in power generation. Global LNG liquefaction capacity increased by 6.5 million tonnes per annum (MTPA) in 2024, taking the total to 494.4 MTPA by year-end. However, only 14.8 MTPA of new liquefaction capacity reached final investment decision (FID), the lowest annual approval level since 2020. This marked a significant drop from the 58.8 MTPA sanctioned in 2023. Floating LNG (FLNG) capacity also expanded in 2024, with the Marine XII FLNG project in Congo and Altamira Fast LNG in Mexico entering operation. Total operational FLNG capacity stood at 14.35 MTPA as of early 2025. Commenting on the findings, IGU Secretary General Menelaos (Mel) Ydreos said, '2024 proved to be another vibrant year for the LNG sector's rapid evolution. The trajectory of LNG growth persisted, bolstered by the introduction of two new exporting markets, while global LNG prices have eased compared to prior years.' He added, 'Nonetheless, this market stability remains precarious, highly influenced by significant uncertainties surrounding market and project dynamics, geopolitics, trade, and regulatory policies.' The report also flagged growing regulatory scrutiny on methane emissions. 'The increasing global regulatory focus on methane emissions, particularly from the EU, Japan, and South Korea, is resulting in greater transparency and compliance obligations within the LNG trade,' Ydreos noted.
The Sun
20-05-2025
- Business
- The Sun
Energizing a Sustainable Future: The 29th World Gas Conference Opens in Beijing
BEIJING, CHINA - Media OutReach Newswire - 20 May 2025 - On the morning of May 20, the 29th World Gas Conference (WGC2025) opened at the China National Convention Center in Beijing. This marks the first time in the nearly 100-year history of the World Gas Conference that the event is being held in China. As one of the three flagship events of the International Gas Union (IGU), this year's conference is themed 'Energizing a Sustainable Future.' It has brought together more than 3,000 delegates from 70 countries and regions around the world to engage in in-depth discussions and consensus-building on global energy transition, the development of the natural gas industry, and pathways to a sustainable future. The opening ceremony was chaired by Mr. Cao Yujun, Chair of the National Organizing Committee (NOC). Speeches were delivered by Li Yalan, President of the International Gas Union; Yin Yong, Mayor of Beijing; Wan Jinsong, Deputy Director of the National Energy Administration; Patrick Pouyanné, Chairman and CEO of TotalEnergies; and Dai Houliang, Chairman of China National Petroleum Corporation (CNPC). Li Yalan, emphasized that amid multiple global challenges such as climate change, energy security, and geopolitical tensions, natural gas — with its advantages of abundant reserves, cleanliness, efficiency, and cost-effectiveness — is becoming an indispensable pillar of the global energy mix. She noted that China, as the world's largest importer of natural gas and LNG, is drawing growing international attention for its development model. In particular, she highlighted how Beijing has leveraged natural gas to significantly improve air quality, offering a replicable model for other developing countries. Yin Yong stated that Beijing firmly implements the country's new energy security strategy and continues to promote the green and low-carbon transformation of the energy structure. Currently, natural gas accounts for more than 35% of Beijing's energy consumption. Through initiatives such as coal-to-gas conversion, the city has achieved a more than 60% reduction in average annual PM2.5 concentrations and nearly a 50% decrease in carbon intensity over the past decade. He reaffirmed Beijing's commitment to opening up and deepening international energy cooperation while promoting sustainable urban development. Wan Jinsong noted that China's energy production and consumption continue to grow, with increasingly robust infrastructure and a nationwide unified gas network essentially completed. He emphasized significant improvements in natural gas dispatching and emergency response capacity. He said breakthroughs were seen in deep-earth, deep-sea, and unconventional resource development, helping boost output of natural gas. Wan proposed four key initiatives: enhancing supply capabilities to serve global public welfare, prioritizing ecology in green development, empowering the energy system through digital transformation, and improving governance via multilateral cooperation. He called for continued openness and win–win collaboration to jointly build a secure, efficient, clean, and low-carbon global energy system. Patrick Pouyanné highlighted TotalEnergies' efforts to maintain its leadership in the conventional oil and gas market while actively participating in the global energy transition. He reiterated TotalEnergies' commitment to achieving net-zero emissions by 2050 and to furthering international cooperation to build a diversified, clean, secure, and sustainable energy future. Dai Houliang introduced CNPC's recent breakthroughs in deep oil and gas exploration, including the successful completion of a 10,000-meter ultra-deep drilling mission and continuous progress in unconventional resource development. As Asia's largest and the world's second-largest energy company, CNPC plays a key role in safeguarding national energy security and consistently undertakes critical supply missions during peak winter and summer periods. He stressed CNPC's unwavering commitment to green transition, accelerating the integration of oil, gas, and new energy, and building a synergistic, multi-energy system. As the only Chinese member of the Oil and Gas Climate Initiative (OGCI), CNPC will continue to actively participate in global climate governance, contribute to China's carbon peak and carbon neutrality goals, and help extend the benefits of green development to more countries, clients, and communities, he said. Following the speeches, Mr. Cao Yujun, Chair of the NOC, invited Yin Li, Secretary of the Beijing Municipal Committee of the CPC; Yin Yong, Mayor of Beijing; Li Yalan, President of the IGU; Wan Jinsong, Deputy Director of the National Energy Administration; Li Xiaolong, Vice Minister of Housing and Urban-Rural Development; Dai Houliang, Chairman of CNPC; and Patrick Pouyanné, Chairman and CEO of TotalEnergies, to jointly inaugurate the opening ceremony. As the countdown reached zero, the main screen lit up with the words 'WGC2025 Officially Opens,' and the venue erupted in enthusiastic applause—marking the official launch of the 29th World Gas Conference. According to schedule, WGC2025 will feature more than 80 high-level forums covering topics such as LNG development, natural gas and renewable energy integration, energy security, and digital transformation. More than 400 distinguished guests will engage in deep dialogue on industry trends and technological innovation. The concurrent exhibition spans 50,000 square meters — the largest in the event's history — and is expected to attract more than 30,000 professional visitors from China and abroad. The 29th World Gas Conference (WGC2025) is presented by the International Gas Union, hosted by Beijing Gas Group, and exclusively organized by Capital Convention & Exhibition Group.
Zawya
20-05-2025
- Business
- Zawya
Energizing a Sustainable Future: The 29th World Gas Conference Opens in Beijing
BEIJING, CHINA - Media OutReach Newswire - 20 May 2025 - On the morning of May 20, the 29th World Gas Conference (WGC2025) opened at the China National Convention Center in Beijing. This marks the first time in the nearly 100-year history of the World Gas Conference that the event is being held in China. As one of the three flagship events of the International Gas Union (IGU), this year's conference is themed "Energizing a Sustainable Future." It has brought together more than 3,000 delegates from 70 countries and regions around the world to engage in in-depth discussions and consensus-building on global energy transition, the development of the natural gas industry, and pathways to a sustainable future. The opening ceremony was chaired by Mr. Cao Yujun, Chair of the National Organizing Committee (NOC). Speeches were delivered by Li Yalan, President of the International Gas Union; Yin Yong, Mayor of Beijing; Wan Jinsong, Deputy Director of the National Energy Administration; Patrick Pouyanné, Chairman and CEO of TotalEnergies; and Dai Houliang, Chairman of China National Petroleum Corporation (CNPC). Li Yalan, emphasized that amid multiple global challenges such as climate change, energy security, and geopolitical tensions, natural gas — with its advantages of abundant reserves, cleanliness, efficiency, and cost-effectiveness — is becoming an indispensable pillar of the global energy mix. She noted that China, as the world's largest importer of natural gas and LNG, is drawing growing international attention for its development model. In particular, she highlighted how Beijing has leveraged natural gas to significantly improve air quality, offering a replicable model for other developing countries. Yin Yong stated that Beijing firmly implements the country's new energy security strategy and continues to promote the green and low-carbon transformation of the energy structure. Currently, natural gas accounts for more than 35% of Beijing's energy consumption. Through initiatives such as coal-to-gas conversion, the city has achieved a more than 60% reduction in average annual PM2.5 concentrations and nearly a 50% decrease in carbon intensity over the past decade. He reaffirmed Beijing's commitment to opening up and deepening international energy cooperation while promoting sustainable urban development. Wan Jinsong noted that China's energy production and consumption continue to grow, with increasingly robust infrastructure and a nationwide unified gas network essentially completed. He emphasized significant improvements in natural gas dispatching and emergency response capacity. He said breakthroughs were seen in deep-earth, deep-sea, and unconventional resource development, helping boost output of natural gas. Wan proposed four key initiatives: enhancing supply capabilities to serve global public welfare, prioritizing ecology in green development, empowering the energy system through digital transformation, and improving governance via multilateral cooperation. He called for continued openness and win–win collaboration to jointly build a secure, efficient, clean, and low-carbon global energy system. Patrick Pouyanné highlighted TotalEnergies' efforts to maintain its leadership in the conventional oil and gas market while actively participating in the global energy transition. He reiterated TotalEnergies' commitment to achieving net-zero emissions by 2050 and to furthering international cooperation to build a diversified, clean, secure, and sustainable energy future. Dai Houliang introduced CNPC's recent breakthroughs in deep oil and gas exploration, including the successful completion of a 10,000-meter ultra-deep drilling mission and continuous progress in unconventional resource development. As Asia's largest and the world's second-largest energy company, CNPC plays a key role in safeguarding national energy security and consistently undertakes critical supply missions during peak winter and summer periods. He stressed CNPC's unwavering commitment to green transition, accelerating the integration of oil, gas, and new energy, and building a synergistic, multi-energy system. As the only Chinese member of the Oil and Gas Climate Initiative (OGCI), CNPC will continue to actively participate in global climate governance, contribute to China's carbon peak and carbon neutrality goals, and help extend the benefits of green development to more countries, clients, and communities, he said. Following the speeches, Mr. Cao Yujun, Chair of the NOC, invited Yin Li, Secretary of the Beijing Municipal Committee of the CPC; Yin Yong, Mayor of Beijing; Li Yalan, President of the IGU; Wan Jinsong, Deputy Director of the National Energy Administration; Li Xiaolong, Vice Minister of Housing and Urban-Rural Development; Dai Houliang, Chairman of CNPC; and Patrick Pouyanné, Chairman and CEO of TotalEnergies, to jointly inaugurate the opening ceremony. As the countdown reached zero, the main screen lit up with the words "WGC2025 Officially Opens," and the venue erupted in enthusiastic applause—marking the official launch of the 29th World Gas Conference. According to schedule, WGC2025 will feature more than 80 high-level forums covering topics such as LNG development, natural gas and renewable energy integration, energy security, and digital transformation. More than 400 distinguished guests will engage in deep dialogue on industry trends and technological innovation. The concurrent exhibition spans 50,000 square meters — the largest in the event's history — and is expected to attract more than 30,000 professional visitors from China and abroad. The 29th World Gas Conference (WGC2025) is presented by the International Gas Union, hosted by Beijing Gas Group, and exclusively organized by Capital Convention & Exhibition Group. The issuer is solely responsible for the content of this announcement. The 29th World Gas Conference
Barnama
15-05-2025
- Business
- Barnama
The 29th World Gas Conference To Be Held In Beijing
BEIJING, May 15 (Bernama) -- The 29th World Gas Conference (WGC2025) will be held from May 19 to 23 at the National Convention Center in Beijing, the first to be held in China since its inception in 1931. The conference will feature four key highlights that are worth paying attention to. Focus on New Trends in the Natural Gas Industry amid Energy Transition Energy security and low-carbon transformation have become global issues, and natural gas, with its characteristics of "safety, affordability, and sustainability," has become a key bridge to a sustainable future. Li Yalan, President of the International Gas Union (IGU), stated that natural gas is the third-largest energy source globally, with an annual consumption of more than 4.1 trillion cubic meters, accounting for about 24% of the energy structure. Natural gas, as a resource-rich, low-carbon, and clean energy, plays a crucial role in ensuring energy security and supporting the energy transition.
