Published on settembre 25th, 2018 | by Eurasia News0
Prospects for Using LNG in Countries of the Asia-Pacific Region to be Discussed at REW 2018
Moscow – New opportunities for the use of LNG, as well as prospects for cooperation and sustainable development in the Asia-Pacific region (APR), will be discussed by participants of the International Forum Russian Energy Week, to be held on 3–6 October in Moscow.
Proposals on the formation of the LNG market, the nuances of dialogue with consumer countries, and forecasts of the APR’s socio-economic development will be presented by the largest LNG market players in the APR. The event will be moderated by Hongpeng Liu, Director, Energy Division, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). Speakers will include representatives of the Ministries of Energy of Sri Lanka, Nepal, and Bangladesh, as well as representatives of PJSC NOVATEK, the Energy Centre at the Skolkovo Moscow School of Management, PT Anglo Euro Energy Indonesia, Herbert Smith Freehills LLP, and the South Asian Association for Regional Cooperation.
According to the Ministry of Energy of the Russian Federation, Asian countries today have a growing interest in forming their own LNG infrastructure, in order to increase the share of gas in their energy balance or to create a gas hub serving neighbouring countries. Positive dynamics are associated with active economic growth, population growth, an increase in energy consumption, and the increasing importance of environmental issues in the APR. To date, more than 2 billion APR inhabitants do not have access to clean ecological fuels, and more than 400 million people lack access to electricity.
Tatiana Mitrova, Director of the Skolkovo Moscow School of Management’s Energy Centre, emphasizes that the most promising area for Russian gas suppliers is foreign markets. She is certain that in order to increase the competitiveness of Russian LNG exports, it is necessary to consistently develop new business models. In her opinion, “Russian manufacturers may create a very effective mechanism on the market, which involves a combination of different instruments, from long-term contracts to swaps and online trading.” “LNG is a niche in which a lot of growth is possible and in which Russian producers, theoretically, can become trendsetters. However, for this to happen, a lot of work must be done both for the development of a marketing strategy adapted to the LNG market and in the field of cost reduction,” said Tatiana Mitrova.